Equity crowdfunding platform Crowdcube announced on Tuesday its legal team received recognition at the FT Innovative Lawyers Awards Europe 2016. The event took place last week, and its judges were Integreon’s Bob Gogel, Financial Times’ Michael Skaplinker, and RSG Consulting’s Reena SenGupta. Crowdcube was shortlisted in two categories, which were Most Innovative In-House Legal Time and Most Innovative General Counsel.
Crowdcube’s legal team is notably led by general counsel, Paul Massey, and has three UK qualified solicitors, one Compliance Officer, one Paralegal and Trainee Solicitor and one Legal Executive (Crowdcube Spain). The funding portal stated:
“The legal team adopts innovative approaches across all levels of the business, including defining strategy and product, business development, transactional structures (VC co-investment with the crowd), operational innovation, incorporating due diligence and Regtech implementation; policy and public affairs, advocacy and market education.”
Massey recently shared details about his previous positions and why he joined Crowdcube:
“Before joining Crowdcube I worked at eBay and managed commercial legal work. This included structuring the partnership between eBay and Argos for Click and Collect services. I have been lucky throughout my career to work in industries that have been re-energised by the internet (or disrupted depending on how you look at it). For example, I worked in Warner Music’s digital team negotiating licensing deals with digital platforms when Spotify was starting out. While at a law firm, I advised LEGO on dealing with online child protection, user generated content and social media for multiplayer online games where kids could design lego models and have the bricks shipped to them. Crowdcube offered an opportunity to enter the next industry to be shaped by the internet – finance. It was a no-brainer to join the team and help shape the corporate finance sector of the future.”
Crowdcube went on to add that the legal time has played fundamental roles in larger raises on its platform, including BrewDog’s raise and supported legal requirements for the two equity crowdfunding exits, Camden Brewery and E-Car Club.