Wow. Crowdcube Receives £39 Million in Investor Interest for Self-Crowdfunding Round

Crowdcube 39 million interest

Crowdcube is queuing up for a self-crowdfunding round and this may end up being the largest investment crowdfunding round ever. Crowdcube initially set the bar at £5 million but apparently, this was a bit too low as investors have blitzed the Crowdcube platform to register their interest in purchasing shares in the crowdfunding platform.  As of today, indications of interest stands at about £39 million.  It took just 6 hours for Crowdcube to top £20 million.

Presently European law demands a prospectus for issuers raising over €5 million.  This is something Crowdcube is prepared to do as it pushes the boundaries of internet finance.

As previously reported, Crowdcube 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.

Luke Lang Darren WestlakeIn 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 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 is poised to have a banner month. Revolut, a disruptive payment App, is preparing to list on the platform. Revolut set a target of £1 million but investor interest stands at over £16 million now. No word if Revolut will raise the cap on the offer.

The EIS eligible offer for Crowdcube shuts down pre-registration on Monday, July 18th at 12noon (GMT). If previous self-crowdfunding rounds are any indication, Crowdcube should fill their offer (whatever size that ends up being) in minutes.

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