Crowdsurfer pulls in £1m for crowd financing data

Alternative finance intelligence service Crowdsurfer has picked up £1m in a new round of funding.

Existing backer Mustard Seed led the investment with angel investors also participating including Standard Chartered’s former CEO and deputy CEO Peter Sands and Mike Rees, respectively, among others.

The Cambridge, UK-based company aims to offer data intelligence for the global crowd financing market.

The company aims to use big data technology and machine learning to visualise and interpret information provided by crowd funding platforms.

This includes platforms providing crowd financing through equity, debt (or peer-to-peer), rewards, donations and other forms of financial transactions.

Crowdsurfer’s clients include those looking to raise funding and investors as well as other tracking the market.

Company chairman, Richard Baker said: “We are thrilled to welcome our new shareholders, and the wealth of connections and experience they bring with them.

“Crowdsurfer continues to build momentum at a very pivotal time for the crowd finance sector, bringing much-needed transparency and data intelligence to this disruptive fintech industry.

“We are looking forward to a very bright 2017, and to building on the considerable successes to date.”

The funding announcement follows the launch of the company’s machine intelligence systems, Daisy, designed to help users navigate Crowdsurfer’s database and understand campaigns.

At the time of Daisy’s launch Crowdsurfer’s head of data analytics Dr Simon Fothergill said: “Daisy’s abilities to read crowd finance campaigns allow us to get an unprecedented feel for how the crowd finance community is campaigning.

“We now show the most important concepts behind the campaigns discovered by the user. This makes understanding how people are campaigning more efficient, when browsing the market or refining filters.”

Copyright © 2017 FINTECH GLOBAL

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