View Full Version : Crowdcube backed by private equity firm

07-18-2014, 03:57 AM
A national venture capital firm has pledged 5m to crowdfunding platform Crowdcube, allowing the company to double its workforce and expand internationally.

Crowdcube has secured 3.8m from Balderton Capital, with the investor poised to give a further 1.2m next week (22 July 2014).

The business provides an online platform for start-up companies to raise finance in order to grow. It will use the money to double its staff numbers to 50, open new offices in London and Scotland and expand its base in Exeter.

Darren Westlake, chief executive and co-founder of Crowdcube, said: "We're delighted to secure growth finance from such a renowned VC who will undoubtedly add tremendous value both strategically and operationally.

"This investment, alongside the crowd, puts us in an even stronger position to provide essential growth finance for businesses and inspire a new generation of investors."

Crowdcube launched in 2011 and has since raised more than 30m for 130 start-up and early stage businesses.

More than 15m has been secured in the first half 2014, something that the company said demonstrates the growth of the "innovative crowdfunding market."