We’ve launched a strategic partnership with leading law firm, Harper Macleod, to help businesses that could benefit from equity crowdfunding in Scotland.
To date, we’ve helped 18 Scottish businesses raise finance, contributing £20m of successful investment in the process. However, this represents only 6% of our UK market as a whole, meaning Scotland is way behind other parts of the UK when it comes to businesses taking advantage of crowdfunding.
Through this partnership with law firm Harper Macleod, who have been proactive in the crowdfunding sector in Scotland for a number of years, both organisations will cooperate to ensure equity crowdfunding is considered as part of the funding mix for an increasing number of Scottish growth businesses, for whom it has the potential to be a game changer.
Companies working with both Harper Macleod and Crowdcube can save on the overall cost of conducting their crowdfunding campaign. The partnership will also see us raise awareness through a series of events across the country with the first being held last night.
As the level of public funding for early stage and growing businesses comes under increasing pressure, we want to highlight Scottish equity crowdfunding success stories to date and the opportunities that exist through these events. The Scottish-based businesses that have raised successful campaigns on Crowdcube, include the likes of BrewDog, Innis & Gunn and The Hebridean Food Company. Most of the interest so far from this region has come from the food & beverage sector, but crowdfunding is open to most sectors including manufacturing, cleantech, healthcare and education.
Here’s some of the businesses that funded on Crowdcube and their crowdfunding successes:
BrewDog is the UK’s leading craft brewer, which now has 50 international Brewdog bars, two world-class breweries and 800 employees. Since it started crowdfunding in 2006, the company has raised a total of £41m with the support of 50,000 investors. Over £13m of this funding was raised through Crowdcube.
Innis & Gunn is the UK’s second largest craft brewer, and has received a great number of awards for the quality of its beer and business, including two Queen’s Awards for International Trade. At the end of 2016 the company raised £2.3m from 1,914 investors, overfunding by 236%.
Mara Seaweed is an innovative seaweed brand, producing an award-winning range of seaweed seasonings. Since 2011 the company has been pioneering developments in harvesting, sourcing and processing seaweed. In September 2015 the company raised over £500k from 240 investors.
The Hebridean Food Company aims to bring food to life through the passion for its Hebridean home, from its small-scale fishermen to its hardy crofters. The company worked with a world class chef to create its fantastic range of seafood soups. In July 2016 the company raised over £165k from 299 investors.
Bellfield Brewery is the UK’s first dedicated gluten-free microbrewery. It creates a wide variety of styles from lagers and ales through to porters and stouts, all deliciously gluten-free. In April 2015 the company raised over £178k from 166 investors.
If you’d like to find out if your business could crowdfund, register your interest here (it takes just a couple of minutes!).