Crowdfunder has raised more than £600,000 in a week on Crowdcube, going some way to help the rewards-based platform grow.
The company will use the funds it raises to connect more projects to partners using business development, including the launch of Crowdfunder Plus, doubling the size of its business development team and expanding its London team, which Crowdfunder think will help it raise revenues of £2.75m in the next three years.
Additionally, Crowdfunder will boost its marketing efforts, taking advantage of events and apps to leverage the brand and focus on growing its technology team to come up with new ways of connecting partners with projects.
“Currently in the UK it can be hard to find funding for a great business, social enterprise, charity or individual project and engage with the community around you,” the company said on its Crowdcube page. “Banks are cautious about lending, grants are hard to secure, and without proof your idea is a good one, it’s a challenge to get the money you need to develop and grow.”
It said it wants to change this attitude by encouraging supporters to give money to great causes and get rewards as a thank you. Crowdfunder has also added community shares to the platform, meaning those giving money can have a share in the projects they are supporting.
Additionally, Crowdfunder announced a strategic partnership with Crowdcube, which will focus on the two companies promoting the growth of crowdfunding in the UK. The two companies will help raise awareness of the UK’s buoyant crowdfunding scheme and also, the country’s fast growth businesses.
“Crowdfunding offers amazing growth opportunities for British business,”Crowdfunder managing director, Phil Geraghty said. “This collaboration will raise awareness of the different types of crowdfunding to ensure projects get the support they need. This is an exciting time for the UK’s crowdfunding industry and this further collaboration will help cement the UK as one of the leading players globally in crowdfunding.”