Just a little over two years after securing £520,000 in funding through its first equity crowdfunding campaign on Crowdcube, online gallery marketplace Rise Art has returned to the funding portal, seeking a minimum of £650,000. Founded in 2011, Rise Art is on a mission to revolutionize how people find and buy art. The platform’s curators search around the globe for exceptional talent and, just this past year, it reviewed 20,000 artists and accepted less than 3% on its website.
“We want to be the online gallery that discovers the most extraordinary artists from around the world, making great art accessible to everyone. We’re now raising capital in order to grow our customer base and expand into Asia, where we see huge market potential.”
Speaking about its recent results and tractions, Rise Art reported in 2017, order value went up to nearly 100% YOY to £1,032,000 (Revenue £581,216, GP 63%, Net Loss £706,491). The company also launched the Rise Art Prize, a global art prize with over 40 press features including the Financial Times, reaching 6 million. It also began its Asian expansion by opening up pop-ups and media events in Hong Kong.
“We find the best art. We’re using the best technology so you can browse from the comfort of your laptop. And, best of all, — we make it easy. We’ll give you advice (if you want it), we’ll sort out shipping and packing, framing (it’s up to you) and we’ll even let you try it at home before you decide to buy (we run an art rental scheme). And if something doesn’t work out — you can return it, free. No hassle.”
Funds from the Crowdcube round will be used to continue Rise Art’s growth and expansion. Since its launch, the campaign has raised more than £575,000 from nearly 75 investors. It is set to close mid-August.
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