A crowdfunding campaign offering investors equity in the UK’s leading crowdfunding network hit its £500,000 target in a matter of hours, as over 200 investors flocked to support the digital business.
Offering 10% equity, Crowdfunder said it was seeking more money “to turn more great ideas into reality”, giving investors the opportunity to be a part of the platform’s social impact.
After launching its campaign on fellow crowdfunding site Crowdcube on Wednesday morning, it took the start-up only three-and-a-half hours to reach their £500,000 target.
Innovation charity Nesta was the first to pledge towards the equity fundraise, providing £150,000. A further £80,000 was pledged within 15 minutes.
“It’s been an awesome day – a massive endorsement of what we’ve been doing at Crowdfunder – and the sheer power of crowdfunding as a way to raise investment”, said managing director Phil Geraghty.
Crowdfunding is a democratic form of financing that allows people to direct their money towards projects they consider important, innovative and socially useful.
Websites such as Crowdfunder links entrepreneurs and innovators to funding for projects that range from social businesses to art or literary projects.
To date, Crowdfunder has raised over £1.5m for over 4,000 projects. According to the Crowdfunding Centre, the platform supports more projects than all its UK based competitors – challenging global giants Kickstarter and Indiegogo.
“Crowdfunder makes a great investment because we are a digital high-growth business in a fast growing market, but also we are really proud of the social and economic impact that we are having across the whole of the UK,” Geraghty added.
In a blog post, he added, “We know that in order to have the real impact we desire we need to grow, and so we are turning to the crowd.
“I believe that crowdfunding is not just about the funding, its about bringing people together, validating ideas and building communities, I believe the world needs more ideas like the [thousands] we have funded, ideas that come from the grassroots, for the grassroots.”
In 2013, alternative finance intermediaries, including sources such as crowdfunding, peer-to-peer lending and invoice trading, raised almost £1 billion.
This represented a growth of almost 91% in a year – while equity-based crowdfunding alone in the UK grew by 618%.
It is estimated the alternative finance market will continue to grow in 2014, raising up to £1.6 billion as it becomes an increasingly attractive option for individuals and businesses seeking funding, over mainstream banks.
Photo: Emily Whitfield-Wicks
Like our Facebook Page
10 Perfect Zero Waste Christmas Gifts To Give This Year
10 Simple Home Improvement Tips To Create A Green Home Environment
Business Initiatives: Ways to Preserve the Environment
Ultra Simple Guide to Consumer Solar Panel Installation
7 Very Important Steps to Become an Eco-Friendly Dog Owner
The Unbelievable Car Insurance Perks of Being an Eco-friendly Car Owner
5 Very Important Sustainable Guidelines for Home Renovations
9 Essential Elements of Success for Eco-Friendly Food Trucks
Comprehensive Analysis of the Environmental and Financial Benefits of Hybrids
7 Ethical Stocks Looking to Make a Significant Recovery after the Pandemic
Implementing the Best Sustainable Construction Practices with Timber
An Important Look To The Future of Green Construction
The Triumphant Turnaround of Tesla Motors
4 Eco-Friendly Ways to Invest in Your Business
The Terrifying Effects of Polyester on the Environment and Our Health
Understanding the Horrifying Hazards of E-Waste 101
The Terrifying Environmental Footprint Of PPE Disposals
Sustainability is Transforming the Diamond Industry
Massive Technological Advances Create a New Era for Sustainable Farming
4 Sustainable Real Estate Renovations to Complete Before Renting Your Home
- Editors Choice10 months ago
10 Green Companies With Amazing Environmental Initiatives
- Environment11 months ago
How You Can Celebrate An Environmentally Friendly Christmas Or Holiday
- Features10 months ago
5 Sustainable Home Improvement Ideas To Improve Your Home’s Value
- Environment11 months ago
Simple Hacks to Slash Your Environmental Footprint for the Holidays