Debt-based crowdfunding platform ECrowd! announced this week it has secured €307,900 from 135 investors during its second Crowdcube Spain campaign. The funding portal raised €154,000 from 48 individual investors during its first Crowdcube Spain initiative in September 2015.
“The success of this round strongly validates our model, which leverages the 3 fundamental trends of the financial disintermediation through ‘fintech,’ the collaborative economy and the need for sustainable development and transition to a low carbon economy. Over the past 2 years, we have built a very useful and powerful product. With this round, we now have the means to scale it and really lead the transformation towards sustainable, responsible and profitable collaborative finance.”
Pepe Borrel, CEO of Crowdcube Spain, added:
“The success of ECrowd! is a tremendous example of the strength of the alternative finance model provided by crowdfunding. With this latest campaign, we’re really proud to continue to lead the way throughout Europe, and particularly here in Spain, for equity crowdfunding for companies with high growth potential.”
The news of ECrowd!’s latest crowdfunding campaign comes less than six months after the platform received a formal operating license from the Comision del Mercado de Valores (CNMV), the securities regulatory agency in Spain. ECrowd! joined Crowdcube Spain, Lendix, and MyTripleA in receiving official approval as a Collaborative Finance Platform under regulations enacted in 2015.
ECrowd! is described as a debt-based impact crowdfunding platform that helps to finance projects that are profitable and generate a positive impact on society or the environment.
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