Crowdcube raises $10.4m on own equity crowfunding platform

Crowdfunding platform Crowdcube has raised £8m ($10.4m) through a campaign on its own platform.

The equity crowdfunding campaign attracted more than 3,700 investors, as well as £1m ($1.3m) from London VC Balderton Capital, which reinvested in the startup.

The company, which originally targeted £5m ($6.5m) for the round, claims it’s the largest equity crowdfunding raise completed entirely on a UK platform.

Crowdcube says the financing will be used to fuel growth, which also includes plans to develop and offer secondary trading on the platform that could allow any shareholder in a private UK company to sell their stake in a business.

This is the fourth time that Crowdcube has reached out to its users for investment since it launched in 2010. It now claims more than 300,000 investors on the platform.

Copyright © 2016 FINTECH GLOBAL