Broody, a business incubator, has picked up a 5% equity stake in Crowdfunder – the leading rewards based crowdfunding platform in the UK. Broody is supported by London based advertising agency Mother.
Crowdfunder is nearing the close of an equity crowdfunding round on Crowdcube. With four days left in the campaign, Crowdfunder has raised £1.113 million from over 970 investors. The target of the round was set at £750,000 for a 6.21% equity stake at a pre-money valuation of £16.8 million.
Andy Medd who is a Mother partner and co-founder of Broody commented on the investment;
“Crowdfunder’s mission to support social enterprise is a significant reason for our involvement because Broody and Mother are committed to contributing positively to culture and society. Crowdfunder, through their work with M&S, Santander, Virgin and local authorities have shown there is huge potential to access new sources of funding beyond the crowd.”
Rob Love, Executive Chairman of Crowdfunder, said they were delighted to team up with both Broody and the Mother agency. Love said Broody will bring a new level of experience and expertise as they focus on developing their brand.
Crowdfunder boasts a community of over 600,000 users and has worked with more than 80,000 projects since launch. In the past three years, Crowdfunder has raised approximately £40 million and says it is EBITDA positive. Their goal is to disrupt the £5.6 billion grant making sector in the UK. Their goal is to raise a total of £200 million by 2020. It is interesting to note that Crowdfunder has topped global platforms such as Indiegogo and Kickstarter – both of which have a presence in the UK.
Mother is the UK’s largest independent advertising agency with offices in London, New York and Buenos Aires. Launched in 1996, Mother has 400+ employees.
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