Broody, the Mother-backed business incubator and accelerator, has acquired a 5% stake in Newquay-based Crowdfunder.
The deal will see the two organisations working together as partners to cement Crowdfunder’s position as one of the UK’s leading crowdfunding platforms, driving further growth, and give Broody’s portfolio of start-ups access to the benefits of crowdfunding.
The deal was announced as Crowdfunder reaches the climax of its crowdfunding round which values the platform at £16.8 million.
Crowdfunder has over 600,000 members and has raised over £45 million for crowdfunding projects across the UK since 2014. As part of the deal, Broody will have a seat on the Crowdfunder board.
Crowdfunder executive chairman, Rob Love, said: “We are delighted to team up with Broody and Mother as we move to a new stage of growth. The Crowdfunder team are passionate about ideas that might just change the world and Broody shares these values.
“Broody will bring a new level of experience and expertise as we focus on developing our brand and partnerships with businesses, grant makers and government.”
Nicola Lloyd, head of inward investment at Invest in Cornwall, added: “This investment demonstrates the global interest in companies based in Cornwall. Many of the region’s businesses are leaders in their field and are internationally recognised. As certain industries- particularly those in the tech sectors- continue to grow, we expect to see increased and sustained interest of this kind.”
