Fintech accounted for 38% of Crowdcube’s funds raised in Q3 2019

By Oliver Smith on Friday 11 October 2019

Savings and Investment

Crowdcube’s revenues last quarter hit £2.2m.

Fintech accounted for 38% of Crowdcube’s funds raised in Q3 2019
Image source: Luke Lang, Crowdcube's CMO and Co-Founder.

Crowdfunding giant Crowdcube was buoyed by the meeting of fintech and crowd investing last quarter, with 38% of the £39m invested via its platform going to fintech startups.

Curve (£5.3m), Chip (£3.9m) and Gohenry (£1.5m) were among the fintech fundraising leaders in the three months to the end of September, which helped push Crowdcube’s revenues over £2m to £2.2m for the first time.

“Our fantastic third-quarter results show that it is possible to thrive in spite of the gloomy economic backdrop in the UK and Europe,” said Crowdcube CMO and Co-Founder Luke Lang.

Ambitious businesses who want to leave their mark on the world and build meaningful relationships with their communities can have staggering success.

In total 62,000 pledged investments were made, totalling £58.7m, although not all of these pledges will translate into investments.

Crowdcube also said that its Spanish operation had turned a profit, while its UK operation remains in the red.

Fintech’s relationship with crowdfunding appears to know no limit, last year Monzo raised £20m via crowdfunding, Freetrade has entirely funded its business through crowdfunding to the tune of £6.7m, and Nutmeg topped up its Goldman Sachs haul with an additional  £3.8m from the crowd.

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