By Guglielmo de Stefano on 22nd January 2016
UK-based equity investment platform VentureFounders today announced the closing of a £1.8million investment round. Additionally, the company has appointed Martin McCourt, former CEO of Dyson, as Chairman of its Board.
Founded in late 2014, VentureFounders has grown quickly within the UK equity crowdfunding market. The platform boasts over 1,000 registered sophisticated investors and has so far enabled 10 businesses to raise over £20 million. The average individual investment made through the platform is £11,000, with opportunities ranging from £1 million to £5 million.
In a recent interview with founders James Codling and Paul Moravek, it became clear that the pair intend to build significantly upon the typical equity crowdfunding model, offering not only businesses fundraising opportunities, but also long-term advisory services. VenturesFounder’s team is composed of people with extensive experience in corporate finance, private equity, deal structuring and start-ups. The result is, in theory, a curated selection of uniquely high quality investment opportunities.
James Codling commented on the investment and the appointment of Mr. McCourt:
“This injection of capital will allow us to realise our expansion plans and we are thrilled to appoint Martin as Chairman. He has been a fantastic supporter of the business and brings considerable leadership skills to the table.”
Martin McCourt has spent over 35 years working at the heart of British-based manufacturing, design and marketing for renowned brands such as Mars, Duracell, Toshiba and Pelikan. More recently, he worked for 15 years as the Global CEO of the Dyson group of companies. It will be for Martin to help in shaping the future strategic direction of VentureFounders. The ex-Dyson man offered comment:
“VentureFounders has gone from strength to strength over the past year and I have been impressed by the wide range of carefully identified investment opportunities they have presented to investors. I look forward to sharing my expertise as the business develops to the next level.”
According to AltFi Data, VentureFounders is predicted to hit a total funding origination volume of £40 million by the year’s end,up from the current total of £17m, with a predicted y-o-y growth of 132%. VentureFounders is projected to produce the most rapid growth rate in equity crowdfunding throughout 2016. Mr. Codling concluded:
“The business has grown substantially over the past year and we are confident of further growth.”
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.