Friday 1 April 2016 10:16 am

Crowdfunding website used by mobile challenger bank Mondo to raise £1m in 96 seconds celebrates £150m milestone


I write about M&A, deals, IPOs, private equity, asset management, media and a few other areas for City A.M. I also write news features and am always interested in interviewing and profiling high-profile business figures. I previously worked for Press Gazette and Mail Online.

I write about M&A, deals, IPOs, private equity, asset management, media and a few other areas for City A.M. I also write news features and am always interested in interviewing and profiling high-profile business figures. I previously worked for Press Gazette and Mail Online.

It has helped mobile banks, car parking apps, artisan food marketsUber challengers and cocktail companies along their way.

And now Crowdcube is celebrating a milestone: since launching in 2011, companies have raised £150m on its platform.

The crowdfunding website estimates that its 381 successful raises – 34 of which have totalled more than £1m – will create 7,000 new jobs.


Read moreNumis leads £6m Crowdcube investment for IPO innovation

More than half – £83m – of the £150m was raised in 2015 alone.

And this year, triumphs have included mobile challenger bank Mondo raising £1m in 96 seconds.

The £150m milestone was reached after shoe company Vivobarefoot exceeded its £750,000 funding target this week.

According to Crowdcube, investment from 267,000 people via its platform has resulted in nearly 400 successful raises.

Read moreThis challenger bank took 96 seconds to raise £1m

Some 28 per cent of companies to have used Crowdcube have been startups, and the remaining 72 per cent were defined as early or growth stage businesses.


Crowdcube has estimated that the successful raises on its platform will create more than 7,000 new jobs in the first three years after reaching their targets.

It said the most represented sector has been technology, followed by internet businesses and then the food and drink sector.

Read moreSourced Market tastes success on Crowdcube

​Crowdcube co-founder Luke Lang said: “We're celebrating the positive impact the investment has had on the UK economy, fuelling the growth of hundreds of businesses and creating jobs.

"We've also seen many of those businesses use their investment to expand globally, selling their products and services in overseas markets, including Faction Skis, Righteous, Rollasole and Sugru to name just a few.

"It’s our crowd that has driven this – their investment has made it all happen.”

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