Crowdcube to Launch Self-Crowdfunding Round, Will File Prospectus to Raise More Than €5 Million

Luke Lang Darren WestlakeCrowdcube is raising more money and this time they are going big. In their last funding round, Crowdcube raised £1.2 million in a crowdfunding round alongside a £3.8 million investment from Balderton.  With this funding round, they are filing a prospectus meaning they can hurdle the €5 million from the crowd. Crowdcube is a leading voice in the push to raise the limit for investment crowdfunding without a prospectus.

Less than two weeks after the UK voted to leave the European Union (EU) in the nationwide referendum, equity crowdfunding platform Crowdcube announced it was defying what it calls the “Brexit Fallout” by launching its new investment round.

CrowdcubeCrowdcube was the first online investment platform to launch in the UK and remains the largest platform by total amount raised. To date, the funding portal has raised over £163 million (approximately $240 million) making it one of the largest platforms in the global industry.

Sharing details about the upcoming initiative, the Crowdcube team revealed they are inviting the UK public to register for early access to the portal’s latest funding round.

In an email to users, Crowdcube stated;

“In just five short years we have firmly established our position as a global fintech pioneer and the UK’s dominant equity crowdfunding platform but we’re not stopping there, we’ve got ambitious plans for the future. As a valued member of Crowdcube, we’d like to give you the opportunity to register for early access to our raise so you’ll have the chance to invest before the opportunity is available to the public.”

Crowdcube explained that the UK has a “long and proud history as a hotbed of entrepreneurialism”. Crowdcube pointed to the fast growing investment crowdfunding market that totaled £245 million in 2015.

“[The UK crowdfunding market] is vibrant post-Brexit, with investment up 18% on Crowdcube after last week’s disappointing out vote it is clear that investor demand to back great British businesses is unwavering.”

Crowdcube states it has over 285,000 members today. With over 400 funding rounds there have been both small and large issuing companies.

In 2014, the £1.2 million Crowdcube self-crowdfunding round filled in just 16 minutes.

Crowdcube 1The offer, which is EIS eligible, is set to open on July 18th for early access (July 19th for wider public). Crowdcube noted that due to the rules associated with raising under a prospectus, information about the funding round is restructured until the prospectus is available. If you are interested in more information you may register for the early access here.

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