Little more than a start-up itself, UK crowd funding firm Crowdcube, founded in early 2011, is planning to expand worldwide and aims to create a global platform linking investors to start-ups and other organisations in need of funds.
The firm, which has raised £9.3m since its launch, has already started up in Sweden and Crowdcube Brazil should be up and running by the end of August, followed by Crowdcube Middle East in the Autumn. The firm is also looking at partnerships in the United States, Canada, Australia, Mexico and India.
Crowd funding works by providing a platform for investors to pool their resources, with a stake of anything from £10 upwards, to help firms needing money reach their financial targets.
Recent UK start-ups to benefit from crowd funding include a digital start-up that raised £150,000 of growth finance in record time and a Welsh start-up that raised £120,000 via crowd funding platform Seedrs.
Chief Executive and co-founder of Crowdcube, Darren Westlake said that the firm’s ultimate aim is to build a network of crowd funding sites in 25 to 30 countries, so that the whole thing becomes a global investment platform.
The platform was also delighted to announce that it has been short listed for a national industry award. As well as being a short listed category finalist at the UK Business Angels Association last week, the firm has just been nominated as Private Equity Network of the Year at the Investor Allstars 2013 awards.
Crowdcube was also placed at number 11 in the Startups 100 in 2012, which means that it is well placed to advise other start-ups on how to raise finance, as well as advising the Cabinet on how to effectively accommodate crowd funding in mainstream legislation.
London accountant, Russell Black specialises in offering accountancy, audit and taxation advice to business start-ups.