Equity crowdfunding platform Crowdcube records strongest ever quarter

Exeter-based Crowdcube has had its strongest quarter ever, driven by record activity levels.

In the second quarter of 2018, a record £47.4m was raised for 58 businesses. This takes the total pledged on the platform to over £490m.

Revenue increased by 43 per cent from the second quarter of 2017, at £1.46m. Along with a record first quarter, revenue for the first half of the year has now reached £2.67m, up 32 per cent from the first half of 2017.

The results have been propelled by successful investments into technology, people and processes in 2017. These investments created a better fundraising experience for firms, while improving productivity and efficiency.

Despite increasing revenues in 2018, in its latest annual results Crowdcube was still loss-making. Operating losses came in at £4.7m.

Crowdcube has launched a raft of new features. Last month, it introduced a feature which allows entrepreneurs to segment, analyse and act on personalised insights related to their campaign. It also enables them to fully track the performance of their crowdfunding campaign and any marketing activity, as well as see all sources of investment.

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, weve 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."

In Funded Club news, Crowdcube investors who invested in Revolut, Britains first digital banking unicorn, were given a choice of whether to sell their shares back to Revolut or retain them. Those who opted to sell have now realised returns of roughly 19 times their original investments.

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