Crowdfunding platform Crowdcube is launching a dedicated scheme to help British seed-stage businesses secure funding.
The Sprint Programme is aimed at businesses looking to raise between £20,000 and £150,000. It is intended to help start-ups by making the funding route more cost-effective and timely.
The news follows the recent Beauhurst report that reveals seed-stage deals completed on crowdfunding platforms increased six-fold between 2011 and 2014 – up from 5% to 30%.
One company that has already raised funds through the new programme is The Pressery. The producer of almond milk drinks reached its £150,000 target in under two hours. In total 58 people from the 150,000 strong Crowdcube community backed the business – including one individual investment of £30,000.
Pressery co-founder Natali Stajcic said she found it hard to believe the business had reached its target in less than 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,” she continued.
Crowdcube co-founder Luke Lang highlighted that, since launching in 2011, the platform has raised “over £70 million in funding for over 205 businesses”.
“One in every five businesses is a pure start-up, accounting for £19 million of the funded total,” he said.
“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.”