One of the most popular UK crowdfunding platforms, CrowdCube, has managed to exceed its target amount of £5 million in its latest crowdfunding campaign launched on its own platform.

With five days to go, the campaign has raised £6,845,400 from 3411 investors.

The new funds will go towards expanding the company’s market position in the UK, focusing on expanding on equity crowdfunding.

CrowdCube commented:

“We want to dominate the UK equity investment market for private companies, estimated to be worth £5.3 billion, and become the partner of choice for investors and ambitious high growth companies.”

CrowdCube launched its online platform in 2011. It has since raised more than £160 million in more than 400 successful campaigns. Currently it has over 285,000 registered members. 115,000 new members joined in the last year alone. CrowdCube said it is expecting the number of registered members to increase to 500,000 by 2017.

New software products “to enable businesses to manage their investors more efficiently and give investors greater transparency on how their investments are performing” are also in planning.

CrowdCube has been the platform for well-known success stories for crowdfunding. The Scottish brewery BrewDog’s four ‘Equity for Punks’ campaigns, launched on CrowdCube, broke two world record in crowdfunding. BrewDog became the first company to raise as much as £26 million in total equity crowdfunding. Its’ latest round also become the first scheme to raise more than £5 million in less than three weeks.

CrowdCube itself has received a large following in backers. More than 570 private investors gave over £3 million in various crowdfunding rounds. It is also largely supported by Balderton Capital – one of the largest European venture funds, Numis – a leading UK stockbroker and corporate advisor and Draper Esprit – “one of Europe’s most experienced venture capital investors”.

Katharina Fleiner 11/08/2016