Crowdfunder has raised £1.1 million from over 1,039 people, welcoming Broody as a strategic investor for the first time.

The platform, which helps people raise money from the crowd “to make their ideas happen”, asked people to invest on Crowdcube, with an ambition to raise £750k.

Crowdfunder’s cornerstone shareholders, Creative England, Nesta and Crowdcube, re-invested and were joined this time by Broody, the Mother-backed business incubator and accelerator, which has agreed to acquire a 5% stake in the crowdfunding platform.

The money was raised to drive the growth of the platform, and investment will be focussed on acquisition, repeat pledgers and fund distribution.

Crowdfunder MD, Phil Geraghty, said: “We’re delighted to beat our target and are excited to welcome over 1,000 new shareholders for the first time. Crowdfunder’s mission is to tackle society’s challenges by making ideas happen and this finance will enable us to help thousands more projects across the UK.”