The first aircraft to be designed and built in Britain for decades has soared past its fundraising target on Syndicate Room.
The e-Go is a low cost, ultra-efficient single seat aircraft – aimed at the private pilot market. It will initially go on sale in the UK and US at around £50k. The aircraft has been nominated for the Design Museum London’s Design of the Year 2014 Award.
Investors have already poured more than £670k into the one-seat airplane via the platform. As is typical of the Syndicate Room model, over half of that funding has come from professional investors. The remainder is being financed by the “crowd” – investing as little as £500 each.
“The e-Go aircraft is in the final stages of development, and when it goes on sale its competitive price and remarkable fuel economy will make it a hugely attractive proposition to recreational pilots. A panel of successful professional investors has invested in it already; now everyone can.
“SyndicateRoom gives private investors the chance to invest alongside experienced business angels, who are putting their own money on the line. We’ve sought to add an extra level of security and peace of mind for anyone wishing to invest in UK start-ups via a crowdfunding platform.”
We don’t often write about individual projects – but this one is indicative of the galvanizing power of crowdfunding. Can the crowdfunded e-Go revive the once-great British aircraft industry? The market is definitely there – with roughly 60,000 licensed pilots in Britain, and a further 600,000 in America. This story also serves as further evidence that matters are heating up at Syndicate Room, who continue to make headlines.
AltFi is returning to Amsterdam for its second annual Summit in the city. The inaugural event last year was a roaring success, with key figures from across Continental Europe's alternative finance and digital banking sectors highlighted. These included Jeroen Broekema, managing director of Funding Circle Netherlands, and Mieke van Engelen, head of innovative partnerships at ABN AMRO's standalone lending platform, New10.