Just days after announcing an extension of its second equity crowdfunding campaign on Crowdcube, reward-based crowdfunding platform Crowdfunder UK has successfully secured its initial £750,000 from more than 750 investors.
Founded in 2014, Crowdfunder UK describes itself as the UK’s number one rewards-based crowdfunding platform. The funding portal revealed it has helped more than 80,000 charities, businesses, and community projects raise funds they need, and enable them to change lives and build communities. Crowdfunder UK also reported it works with M&S, Santander, Virgin, ad 20 local authorities to distribute grants and has plans to increase its share of the £5.6bn grant giving market. To date, Crowdfunder UK’s achievements include:
- The platform has grown it valuation by three fold. The portal plans to triple the value of the business again by 2020.
- It has raised over £40 million for UK projects. The platform’s goal is to raise a total of £200 million by 2020.
- The platform has over 600,000 members. We’re forecast to have two million by 2020.
- In 2015, the funding portal £1.3 million through its first Crowdcube campaign.
Managing Director at Crowdfunder UK, Phil Geraghty, recently stated:
“When Crowdfunder started in 2014, we only had two projects in the first month to work with. We’ve now worked with over 80,000 projects and raised over £40m – so you can really start to gain a sense of perspective of how rapidly we’ve grown. Since this first month however, we have always maintained that our mission, the very core of what we do, is to tackle society’s challenges by making ideas happen. We bring together projects that matter with supporters who care to raise the funds that they need – it’s as simple as that.”
“I would say that, since we started out, there has definitely been a rise in the demand of funding needed to tackle societal issues. In the recent Social Enterprise UK 2017 report, it was revealed that there are now roughly 70,000 social enterprises in the UK – 82% of which applied for grant funding in the last year. Our platform is in this incredible position to not only offer support to all of our project owners, but to also help bring about change that has an impact on communities across the UK.”
Funds from the Crowdcube campaign will be used to grow Crowdfunder UK’s partner network and further develop its reward-based funding portal.
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