A Brief Update on Crowdcube Spain

By Ryan Weeks on Tuesday 10 February 2015

Savings and Investment

Crowdcube’s efforts on the Continent are beginning to bear fruit.

The leading UK equity crowdfunder’s Spanish subsidiary recently closed a €450,000 round for Barcelona-based drone company HEMAV. The €450,000 – which was raised in just 6 days via 73 private investors – represents a record within the nascent Spanish crowdfunding sector, both in terms of time taken to fund and amount funded.  HEMAV acquired 4 new board members as part of the round, including prominent business angel Lluis Font – Co-Founder of Zyncro.

Crowdcube Spain kicked things off back in June 2014. The platform’s first campaign, somewhat appropriately, was for a jamón ibérico-selling company called Iberic Box. That round overfunded, with €92k funnelled through to the company.

The platform has also funded another 2 companies – Foodinthebox and Eureka Startups Experts – bringing its cumulative funding total to €620,000. The entirety of that sum has been sourced from Spanish investors. Whilst it may not seem like a significant total in relation to the UK sector’s gaudy numbers, the fact that all 4 of these projects have been funded entirely by local money is a sign that progress is being made in Spain’s fledgling alternative finance market.

Crowdcube Spain has a further 5 pitches live on the site at present. CEO Pepe Borrell likens the current state of the Spanish equity crowdfunding space to the position of the UK market 3 or 4 years ago – when the Crowdcube mothership first launched. A dedicated regulatory regime in Spain sits high up on Mr. Borrell’s wish list. Such a framework, he argues, would help to persuade a greater number of accredited investors to look upon the platform as a legitimate and professional investment channel.

We’ll keep you up to date with Crowdcube Spain’s development. 

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