Richard Branson’s Pitch to Rich competition completed today with each finalist competing to share over £1 million in cash and prizes. Competing for the recognition were three crowdfunded companies: JustPark, Fourex and Cauli Rice. Each of these companies raised capital on Crowdcube so this is a nice validation of crowdfunded companies.
JustPark won the category of the Grow Category. Fourex took the title of top New Things. Two other companies were recognized. Kino-mo won the Startup Category and AppyParking claimed the People’s Choice Award.
JustPark raised a record-breaking £3.7 million with the backing of 2916 investors purchasing 15.61% equity in the firm in 34 days. The company connects people in search of parking with owners of parking spaces they are willing to rent. The application has already attracted over 700,000 users.
Fourex just recently closed their crowdfunding campaign on Crowdcube. Being selected as part of Branson’s competition may have helped the company easily raise £670,000 on a goal of £275K. Fourex is a currency exchange machine, similar to an ATM, that allows a user to change currency from one currency to another. First machines are expected to be launched soon.
Kino-ma is a company that has created a hologram device that is targeting the mass market. The Kino-ma device costs only £180 to produce and has captured significant accolades and recognition for a product that is expected to hit this coming fall.
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