SME Platform Grafter Quickly Overfunds on Crowdcube

Grafter, a platform that connects SMEs with local rated labor, successfully secured its initial £150,000 funding target just days after launching its equity offering on crowdfunding platform Crowdcube.

Launched in June 2017 by co-founders Tom Cape and Richard Knight, Grafter manages the search process through booking to cashless payment. The platform’s team states it helps manage the whole engagement, from finding and booking staff through cashless payment and reviews at the end. Clients get rated people and Grafters get a contract and payment security. The platform’s story reads:

Tom came up with the idea for Grafter while working on a building project at home. He needed extra labour to wheelbarrow concrete for a couple of days, but couldn’t find anyone locally to help. Richard had experienced the same problem. His builder told him they relied on word-of-mouth and, if they managed to find anyone, often they weren’t any good. With a digital background, Tom and Richard realised that an app which connects businesses with local labour was the answer and Grafter was born!”

Currently, on iOS and Android, Grafter has more than 5000 registered users and is reportedly growing by over 120 a day. Funds from the campaign will go towards further growth and on-going product development of the platform. Speaking about Grafter’s crowdfunding success so far, Cape and Knight stated:

Thank you very much for the overwhelming interest and enthusiasm for Grafter. We have managed to hit our target in just over a day of being live (with a bit of Grafting beforehand!). Because of all the interest we have received, we are going to keep the raise open for a little while longer. The additional funds will help us drive more product development and business growth over the coming months.”

The campaign is set to close early October.

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