On Friday, Crowdcube announced that the remaining Crowd10 campaigns have officially launched on its equity crowdfunding platform. This news comes just after one of the program’s initiatives, Local Vets, has successfully overfunded.
Earlier this month, Crowdcube announced the launch of Crowd10, a new initiative from the funding platform’s affiliate, IdeaSquares. The funding website stated that the program is seeking to support 10 of the region’s startups in raising up to £150,000 of Seed Enterprise Investment Scheme (SEIS) investment.
Founder and CEO of IdeaSquares, Kirsty Ranger, stated:
“We chose a diverse range of startups from multiple business sectors which, we feel, is representative of the diverse business community that operates in our region. For investors we hope that the ten startups presenting here, will provide the opportunity to create a diverse South West early-stage investment portfolio, spreading risk to capital. Furthermore, all ten companies are eligible for Seed Enterprise Investment Scheme (SEIS) tax relief. SEIS aims to encourage seed investment in early stage companies, giving investors, including directors, an initial tax relief of 50% on investments up to £100,000 and Capital Gains Tax (CGT) exemption for any gains on the SEIS shares.”
The crowdfunding platform recently revealed:
“The remaining businesses from Crowd10 have now launched on the platform. The programme, which supports startups in the South West, has already helped four businesses launch on Crowdcube; Local Vets is now at 101%, Lux Rewards at 76%, Coherent at 68% and The Chocolate Bear Kitchen at 48%.”
To see the full list of Crowd10’s campaigns, click here.
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