Invstr meets Crowdcube Co-Founder Luke Lang
We recently had the chance to speak with Luke Lang, Co-Founder of Crowdcube and get his take on crowdfunding and fintech.
LUKE LANG (Co-Founder, Crowdcube):
Crowdcube was launched in 2011 and at the time we were the first and only equity crowdfunding platforms. So we actually pioneered equity crowdfunding. Almanzo is a great example of a business that raised a million pounds in just 96 seconds on the sites. Prior to Crowdcube ordinary everyday people would simply not have had the opportunity to invest in these companies. So the sectors that have always done very, very well is food and beverages. Tech has also been a huge market for us and people love investing and backing in interesting businesses that are trying to disrupt and try and shake up market and using technology to do that. In particular fintech has always been a very very popular sector for us. So just in the last 12 months we’ve had goHenry raised four million through the site. So, that’s a prepaid credit cards for children. We’ve had Revolut which is a forex trading overseas currencies. You’re really starting to see crowdfunding not being an alternative platform but really being mainstream. Yeah, this is often the preferred choice of raising finance for many businesses now. Prior to Crowdcube, the the UK business angel association estimated roughly that around three percent of business angels in the UK were female. On Crowdcube that’s about twenty-five percent. So, although there’s a long way to go to us having parity between male and female you stop…you’ve really seen an indication of how crowdfunding can really help to shake things up and make it a lot more accessible to different audiences.
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