Crowdfunding platform Crowdcube has raised £8m ($10.4m) through a campaign on its own platform.
The equity crowdfunding campaign attracted more than 3,700 investors, as well as £1m ($1.3m) from London VC Balderton Capital, which reinvested in the startup.
The company, which originally targeted £5m ($6.5m) for the round, claims it’s the largest equity crowdfunding raise completed entirely on a UK platform.
Crowdcube says the financing will be used to fuel growth, which also includes plans to develop and offer secondary trading on the platform that could allow any shareholder in a private UK company to sell their stake in a business.
This is the fourth time that Crowdcube has reached out to its users for investment since it launched in 2010. It now claims more than 300,000 investors on the platform.
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