Gowling WLG advises on largest ever UK offering on a crowdfunding platform

2 minute read
23 August 2016

International law firm Gowling WLG has advised Crowdcube, the UK's first and leading equity crowdfunding platform, on its most recent successful public offering as it seeks to further invest in its business.

Crowdcube's initial fund raising target of £5 million was surpassed in four hours and has to date raised over £8 million. This represents the largest public financing secured by an investment crowdfunding platform, as well as the biggest ever UK offering on a crowdfunding platform. Crowdcube also became the first ever company to publish a prospectus for use on a crowdfunding platform.

Kris Rogers, corporate partner, led Gowling WLG's support for Crowdcube, supported by associate Laura Le Marechal.

Kris said: "We are delighted to have assisted Crowdcube on its latest fundraising round, which will provide the company with the working capital needed to support its on-going operations and ambitious growth plans. The use of a prospectus for this public offering is a tangible demonstration of Crowdcube's pioneering approach to crowdfunding and we look forward to supporting them as they continue to lead the market."

Paul Massey, General Counsel at Crowdcube added: "This fund raise will help us continue to cement our position as the dominant player in the equity crowdfunding market. We are delighted with the advice and support we received from the team at Gowling WLG. We look forward to continuing to revolutionise the crowdfunding market by increasing liquidity and transparency for investors."

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