Crowdfunder UK has closed its own crowdsale on £1.2m from 1136 contributors on Crowdcube.
This capital was raised at a £16.8m company valuation, and stormed past its initial target of £750,000. Investments to the campaign were at a minimum of £10.
Crowdfunder is a rewards-based crowdfunding platform that has helped more than 80,000 charities, businesses and community projects to raise capital, through its network of 600,000 members. The company has grown its valuation three-fold in the past three years, and the company expects it to triple again by 2020.
The platform works with M&S, Santander, Virgin and 20 local authorities to distribute grants, as the company looks to increase its activity in the grant giving market.
Crowdfunder managing director Phil Geraghty said, “We are delighted to already have over 1,000 shareholders from our last fundraise, and we want more people to join us on our journey… We are dedicated to continue building some ground-breaking tools for our project owners so that they can raise more money, engage with more people and have the biggest impact possible.”
This is just the latest crowdfunding campaign by Crowdfunder, with last year the company securing £1.3m from 912 backers. The target was £1m, and the biggest single contribution was £250,000.
Last year capital deployment for the funding platforms sector was evenly split between crowdfunding platforms and debt/equity financing solutions. Crowdfunding companies saw just $16m less equity deployed.
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