The programme, which is aimed at seed-stage businesses looking to raise between £20,000 and £150,000, will provide early stage start-ups with a quicker and more cost effective route of seeking investment from Crowdcube’s investor community of more than 150,000 people.
According to a recent Beauhurst report the percentage of seed-stage deals completed on equity crowdfunding platforms rose six-fold, from 5 per cent to 30 per cent, between 2011 and 2014.
Luke Lang, co-founder of Crowdcube says: “Since launching in 2011, our investor base has invested over £70 million funding over 205 businesses. One in every five businesses is a pure start-up, accounting for £19 million of the funded total. We want to continue building on that track record of success with a streamlined process to make raising finance even more accessible for budding entrepreneurs who want to turn their business idea into a reality.”
One of the first start-ups to participate in the Sprint Programme is The Pressery, which produces a range of almond milk drinks that are stocked in stores across the UK including Selfridges and Daylesford Organic. The company raised its £150,000 investment target in less than two hours following investment from 58 people, including investment of £30,000 from one of its backers.
Following the success of their crowdfunding campaign, one of The Pressery’s co-founders, Natali Stajcic comments: “We are delighted with the response from Crowdcube members towards our pitch and can’t quite believe we reached our target in under two hours. The Sprint Programme appealed to us because we felt very ready for the next phase of our business and it pushed us to get there quickly.”
Any business considering raising finance through Crowdcube’s Sprint Programme can find out more here.
Image: Funding via Shutterstock
