Given the unprecedented events related to the Coronavirus, we wanted to provide our shareholders, customers and partners with an update on how Crowdcube is responding to the situation.
As you would expect, during March we saw a slowdown of investment on Crowdcube, however, this was a relatively gradual change in investment behaviour that has now stabilised. We are also aware that conversations with larger investors, about upcoming funding rounds, are and will continue to be challenging for some businesses at this time. We will continue to monitor investor sentiment and activity closely.
Crowdfunding investments are long term, so investment behaviour on Crowdcube is far less susceptible to macroeconomic factors as the public markets. However, this is a fast-changing situation, so we will continue to closely monitor activity and developments in the economy across the UK, Europe and globally.
Crowdcube was founded just after the 2008 crisis, and there was little impact on the business in response to the uncertainty and fallout of Brexit, so the company has a history of rallying against difficult times.
Like many businesses, we have taken steps to reduce the impact of COVID-19 on the company and our team, and we will continue to follow the government's advice on this developing issue.
The safety of our team and their families is of the utmost importance to us, so we will all be working remotely for the foreseeable future. Working remotely has been part of Crowdcube culture for years, so we have tried and tested systems in place, and a technology infrastructure that’s designed to ensure business continuity in times like this.
We don’t expect disruption to your Crowdcube experience, but we will update you if the situation changes. Face-to-face meetings with our customers will be done via video conferencing from now on, but we remain on hand and responsive as ever to all your queries and concerns.
As an online business, with multiple offices across the UK and Europe, we are well-placed to maintain the level of service for our customers throughout what will sadly, be disruptive for many.
Of course, if there are any further updates or developments, that may impact your Crowdcube experience we will update you.
Learn more about how we're continuing to support our community, here.