Just days before its latest Seedrs funding round is set to close, Crowdstacker, a UK-based peer-to-peer lending platform, has successfully secured its initial 800,000 funding target from nearly 350 investors. As previously reported, Crowdstacker was founded in 2014 and describes itself as an award-winning FCA regulated online alternative investment platform that provides ISA eligible P2P loans, bonds, and loan notes. According to the lender:
“We carefully select great British businesses that are looking to raise money to grow or undertake projects. Traditionally businesses borrowed from banks, now through Crowdstacker we enable you to lend directly to businesses, cutting out the banks. You get more on your money and the businesses borrow at better rates; a win win for all.”
Crowdstacker also joined the Peer-to-Peer Finance Association (P2PFA) earlier this year. As previously reported, P2PFA revealed that the online lender concentrates on a select few established businesses looking to secure over £1 million, appealing to businesses seeking to diversify their existing funding strategies. Robert Pettigrew, Director of the P2PFA, stated at the time:
“As one of the first peer-to-peer lending platforms to receive FCA authorization and launch the Innovative Finance ISA, Crowdstacker has much to contribute to the P2PFA. Across the diversity of business models within the peer-to-peer lending sector, there is a clear appetite for platforms to demonstrate their commitment to the high standards of business practice and principles which membership of the P2PFA requires.”
Crowdstacker recently announced it has exceeded £50 million in funds raised for UK businesses that are featured on its portal. Funds from the latest Seedrs round will be used to continue growth and expansion of Crowdstacker’s platform.
Have a crowdfunding offering you'd like to share? Submit an offering for consideration using our Submit a Tip form and we may share it on our site!