Crowdcube sees strongest ever quarter
The crowdfunding platform clocked up nearly £50m of cash raises in the second quarter of the year.
Equity crowdfunding platform Crowdcube has recorded its strongest quarter ever in Q2 2018 with 58 businesses securing £47.4m, according to a statement from the firm.
This takes the total amount raised on the platform to over £490m.
In the three months to end of June, the firm saw revenues of £1.46m, up 43 per cent on Q2 2017. Crowdcube Q1 performance was also, until Q2 2018, a record. This takes H1 revenue to £2.67m, up 32 per cent on H1 2017. Crowdcube says the revenue growth was achieved while maintaining costs at 2017 levels.
It said in statment: “These results have been driven by gains made from investments into technology, people and processes in 2017. These investments targeted and achieved greater efficiency and productivity as well as an improved fundraising experience for companies.”
The firm also revealed that investors who had backed the first digital banking unicorn Revolut via Crowdcube two years ago, have been able realise returns of 19 times their original stake in the quarter.
Luke Lang, co-founder of Crowdcube, said: “Our two consecutive record quarters are a reflection of real progress over a longer period by the team. By investing in the business, we’ve been able to develop our technology and processes to enhance the fundraising experience, allowing us to attract and support more companies and accelerate our revenue growth, while improving efficiency and productivity to manage costs."
"We’re getting fitter as a business while providing more companies with access to finance and bringing more investment opportunities to investors."