Seeking to expand its growing platform, university crowdfunding website Hubbub launched an equity campaign on Crowdcube to raise £250,000. In order to raise the funds, the company decided to offer 8.12% ownership for each backer. Not only did it raise the initial goal, the campaign finished its run and raised £405,690.
Launched in the UK as the first university crowdfunding platform this past January, Hubbub provides universities a place for them to fundraise for projects by their own students, staff, faculties and societies. It enables universities to showcase the student creativity and energy alongside the more ground-breaking research that is going on inside the university community, while also developing essential future careers skills. Each of these projects give the content for a university to use for outreach and marketing and even enabling donors to connect with what they care about.
As previously reported, Hubbub’s creator Johnathan May, a self described technologist, geek and solver (problem maker too), told Crowdfund Insider, “We wanted to raise money through crowdfunding – as opposed to the traditional venture capital route – because we fundamentally believe in fundraising in a positive, open, constructive and supportive way – in a way that involves the friends, family, professional contacts, customers and stakeholders in our business. I mean, that’s why we started Hubbub to begin with. It’s a no brainer. More importantly, we spend hours advising people and organisations how to crowdfund. We want to walk the talk and we know that this experience will enable us to be even better at supporting our customers.
“The UK has one of the most supportive regulatory environments in the world following the FCA’s consultation and regulatory framework, and this is why London has recently been awarded the title of the world capital of crowdfunding in the media. The twin bastions of the SEIS/EIS schemes and a liberal approach to investment crowdfunding means that equity crowdfunding will flourish and mature rapidly in the UK, and we expect to see the first few exits in the next year.
Democratizing investment finance for early stage companies has the added economic benefit of unlocking excess capital otherwise trapped in low-interest current accounts, pumping it back into the economy at a grassroots level. We look forward to being part of the next wave of crowdfunded enterprises and innovators, and hopefully to eventually becoming one of its big success stories!”
Recently, Hubbub also announced the addition of Mark Anderson, Managing Director of Pearson UK to their board of directors on the eve of their launch – a pretty big deal for a small company. Hubbub was labeled Sponsorcraft at one point but rebranded as Hubbub. They partnered with Crowdcube so now they can offer rewards based AND investment based crowdfunding to any educational or non-profit entity.
Have a crowdfunding offering you'd like to share? Submit an offering for consideration using our Submit a Tip form and we may share it on our site!