Monday 04 July 2016 4:52 pm

Crowdcube is eyeing a massive new round of investment via crowdfunding

Crowdcube is defying the Brexit jitters raising its own new round of funding via, where else, but its own round of crowdfunding.

One of the early pioneers of the equity crowdfunding concept, the site has revealed ambitious new plans to raise more than £5m from investors.

“In just five short years we have firmly established our position as a global fintech pioneer and the UK’s dominant equity crowdfunding platform but we’re not stopping there," said chief executive Darren Westlake.

"We’ve got ambitious plans for the future and we’re excited to be able to give the crowd the opportunity to join us on our next exciting phase of growth.”

The Devon-based business has issued a prospectus for investors meaning it can raise more than the €5m limit which applies to typical crowdfunding campaigns which don't issue investor materials.

Interested investors can pre-register from today to get early access to the campaign which opens on 18 July while access will open to the general public the next day.

Crowdcube has raised £1.2m to date via crowdfunding and landed £6m from venture capital investors including Balderton Capital and Draper Esprit as well as Numis Securities last year.

Westlake added: “The UK’s growing investment crowdfunding market, which was estimated to be worth £245m in 2015, is vibrant post-Brexit, with investment up 18 per cent on Crowdcube after last week’s disappointing out vote it is clear that investor demand to back great British businesses is unwavering.”

In five years, Crowdcube has amassed more than 285,000 members who have ploughed more than £160m into 400 different campaigns.

Investors in craft brewer Camden Town were rewarded when it was snapped up by AB Inbev last year and the platform has hosted a series of increasingly successful campaigns, including challenger bank Mondo and fintech startup GoHenry which smashed records.