Tuesday 9 July 2019 2:19 pm

Crowdcube pledges break £100m barrier in first half of 2019

Crowdcube reported record levels of investment and revenue in the first half of the year as more than £100m was pledged on the fundraising platform.

Revenue is up 39 per cent to £3.72m compared the first half of 2018 and £103.4m was pledged to growing companies through the platform. 

Read more: Crowdcube raises £8.5m

In total 15 businesses raised more than £1m during the first six months of 2019. 

Of the 96 companies that successfully raised funds in the period, more than half were early-stage rounds while growth-stage businesses accounted for 41 per cent of total investment. 

Fintech firms lead the way in the first half as Nutmeg raised £4.4m, Money Dashboard raised £3.7m and Freetrade secured £1.9m in funding. 

Meanwhile technology firms that deal with environmental issues took the shortest time to fund.

Read more: Crowdcube eyes massive new round of investment

Recycling Technologies received £1.9m and Pavegen hit a £2.6m target. 

Crowdcube co-founder Luke Lang said: “We’ve had a strong first half of the year and are continuing to see the sector evolve with an increasing number of growth-stage businesses using crowdfunding to strengthen and enhance their relationship with their customers.

“Purpose driven businesses are generating the greatest impact on the platform who are challenging the status quo with new thinking and ideas.”