Equity platform Crowdcube hails £8.5m investment as ‘proof of progress and potential’

Nov 7, 2018 · bdaily.co.uk

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Crowdcube has secured a £8.5m investment to accelerate growth and continue its drive towards profitability.

Venture capital firm Draper Esprit, which led the round by acquiring a £6m stake, invested alongside Balderton Capital and Channel 4, which backed the equity crowdfunding platform through its Commercial Growth Fund.

Members of the public will have the chance to invest in Crowdcube when it launches a crowdfunding campaign next week (November 14) to supplement the institutional investment.

Crowdcube achieved record revenues in Q3 2018, with sales growing 60% year on year to £1.6m. During the same three-month period, investment pledged through the platform rose 97% to £50.4m.

The company is now forecasting an annual revenue of £6m in 2018, compared with £3.9m last year and £3.6m in 2016.

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