Member Article

Growth Capital Ventures achieves £150k crowdfunding venture in just 10 minutes

Growth Capital Ventures, a North East-based FinTech business that develops and operates online funding and investment marketplaces, used its own platform to raise £150k for its expansion.

The company opened its doors for investment by listing on GrowthFunders, an equity and rewards-based crowdfunding and co-investment marketplace, which connects online angels, angel networks and VCs to businesses with high growth potential.

The company launched the fundraising campaign on Monday 1st September, with a target fund raise of £150,000 seed capital to fuel the next stage of growth.

The support came from Growth Capital Ventures’ existing network of online investors, who had been anticipating the listing, and now the company is leaving the opportunity open to allow more investors to get involved.

Craig Peterson, Chief Operating Officer of Growth Capital Ventures said: “The financial services sector is changing massively and technology is the catalyst. We’re now seeing a new generation of FinTech businesses that are driving exponential growth, including online platforms such as our very own GrowthFunders.”

Norman Peterson, Chief Executive Officer of Growth Capital Ventures added:

“Our pitch went live at 1:50pm and within 10 minutes, we’d reached our target, which is absolutely fantastic. Investments have been coming in from a number of online angels and crowd investors, with the largest single amount so far being £25,000. However, the great thing about the GrowthFunders platform, is that smaller investors can also get involved from as little as £100, investing on the same terms as angel networks and VCs and receive up to 78% tax relief.

We’re thrilled with the speed of the fundraise and due to the high level of interest have decided to let the pitch ‘overfund’, which means that we will release further equity in the business at the same valuation“.

This was posted in Bdaily's Members' News section by Ellen Forster .