Crowdcube’s last crowdfunding round in 2014 saw the company raise £1.2 million from crowd investors, alongside £3.8 million from one of Europe’s leading venture capital firms Balderton Capital, in just 16 minutes. This time, in a first for Crowdcube, the company is raising funds with a prospectus, to allow the company to issue shares to the crowd above the limit set by EU rules.

The company has previously raised a total of £12.8 million to fund its growth after attracting investment from over 500 crowd investors, as well as leading venture capital firms Balderton Capital and Draper Esprit and city stockbroker Numis Securities.

“The UK has a long and proud history as a hotbed of entrepreneurialism and innovation,” said Darren Westlake, co-founder and CEO of Crowdcube. “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. 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.”

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