Exeter crowdfunding firm Crowdcube doubles workforce
- 18 July 2014
- From the section Devon
An Exeter crowdfunding firm is to double its workforce to 50 and open offices in London and Scotland.
Crowdcube, which launched in 2011, is getting £3.8m from venture investors Balderton Capital to finance the expansion.
Crowdfunding enables businesses to get investment without going to a bank by appealing to small investors instead.
Crowdcube says it has helped raise more than £30m for more than 130 businesses via 80,000 investors.
Co-founder Darren Westlake said he was "delighted" at the "vote of confidence" from Balderton.
"We've built a pioneering and award-winning service over the last few years," he said.
"This investment, alongside the crowd, puts us in an even stronger position to provide essential growth finance for businesses and inspire a new generation of investors."
Tim Bunting of Balderton said: "We love the way Crowdcube is disrupting and democratising investment into businesses seeking growth finance."