The amount raised by businesses on the Crowdcube platform has increased by more than 50 per cent over the last 12 months. In total, 137 raises were completed on the crowdfunding platform in the year to 30 September 2016, compared to 127 the previous year. The total amount raised grew by 51 per cent to £86m, from £57m in 2014/15. The average amount raised by businesses was £627,000, up from £449,000, while the number of companies raising more than £1m doubled from 11 to 22. The largest raise completed during the year was Crowdcube itself which secured £6.7m to support its growth plans. Following the first exit by E-Car Club to Europcar in July 2015, two further Crowdcube-backed businesses were sold in the last 12 months with Camden Town Brewery to AB InBev and Wool and the Gang to BlueGem Capital. Luke Lang, co-founder of Crowdcube, said: "We have seen an increase in the number of raises year on year as investors back great British businesses on Crowdcube. "The significant rise in the average amount raised by crowdfunding businesses reflects the shift towards more venture and growth stage, often VC-backed, businesses turning to Crowdcube to raise finance alongside start-ups looking for seed investment. This is a trend we expect to continue; we have a robust business pipeline and investor appetite remains strong." Pictured: Crowdcube founders Darren Westlake (left) and Luke Lang
Crowdcube-backed businesses have raised £ 86m using the platform this year - a rise of 51% on 2014/15. The average amount raised by businesses was £627,000, up from £449,000. In total, more than £1bn has been raised through crowdfunding platforms in 2015. In a bid to expand, Crowdcube itself raised £6.7m. Co-founder Luke Lang said the increase reflects the shift towards "more venture and growth stage, often VC-backed, businesses turning to Crowdcube to raise finance alongside start-ups looking for seed investment".