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Crowdcube raises £3.8m as they open London offices

Crowdfunding platform Crowdcube has raised £3.8m and has announced new offices in London.

The investment, led by Balderton Capital, is part of a £5m Series B funding round and will see the British company expand both across the UK and internationally.

The remaining £1.2m will be raised in true Crowdcube fashion through a crowdfunding campaign which opens on July 22nd.

Expansion

The Exeter-based company is planning to double its team size to 50 and open offices in both London and Scotland.

Darren Westlake, CEO and co-founder , is excited to expand their “pioneering and award-winning service”.

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.

Since its launch in 2011, Crowdcube has raised over £30m for startups, more than half of which has come so far in 2014.

Growing fintech

It’s been a strong 2014 for Britain’s booming fintech market with a number of substantial investments.

In June, portfolio management company Nutmeg raised £32m following TransferWise’s $25m funding round led by Richard Branson.

Balderton have experience in fintech having previously backed Zopa, Nutmeg, GoCardless and Wonga.