Crowdcube, an Exeter, and London, UK-based equity crowdfunding platform, raised approx. £7.3m in a campaign conducted on its platform.
3,709 investors subscribed the offering taking a 10.08% stake in the company. Among them, Balderton Capital is investing £1m in the round.
Co-founded by Darren Westlake, CEO, and Luke Lang, CMO, Crowdcube is a leading equity crowdfunding platform that enables anyone to invest in businesses alongside professional and venture capital investors.
Launched in 2011, the platform has raised over £160m for more than 350 businesses.
Crowdcube, which is authorized and regulated by the Financial Conduct Authority (No. 650205), now plans to advance secondary liquidity for investors and intensify its focus on later stage businesses that have potential for faster returns.
It also intends to develop new software products to enable businesses to manage their investors more efficiently and give investors greater transparency on how their investments are performing.