Glasgow Business . 25 www.glasgowchamberofcommerce.com


“Over the past three years, crowdfunding in Scotland has emerged as an increasingly important source of viable funding for business”


FreeAgent, an Edinburgh based cloud based accounting soſtware firm, raised £1,214,905 on the Seeders platform. In 2013, BloomVC was the


only active crowdfunding platform in Scotland. Since then two equity platforms, Glasgow-based Squareknot and the Edinburgh- based ShareIn, have emerged, although Squareknot has recently merged with Growthdeck. LendingCrowd has also arrived in Scotland in the P2P space. Meanwhile, platforms such as


Kickstarter have established a UK presence making it easier to register and receive raised funds. Kickstarter remains the most commonly used reward platform in Scotland, although Crowdfunder has emerged as a significant and established player. Despite falling outwith the


report research period (October 2014 to September 2015), Aberdeenshire-based brewing firm BrewDog continued to make the headlines as it launched a further platform crowdfunding campaign – Equity for Punks IV – a £24 million equity round. Te firm used Crowdcube, the Equity crowdfunding platform, to offer a further shares sale and a fixed term bond. Te report researchers said:


“We have found the BrewDog experience is an intriguing conundrum. While many acknowledge the importance of BrewDog in raising awareness of the opportunity presented by


The audience listens intently


crowdfunding, particularly to a Scotish audience, the distinctiveness and perceived unconventional nature of their approach has caused some to think that crowdfunding is potentially ‘not for them’ as they cannot match the counter-culture BrewDog model.” It is clear from the report,


however, that over the past three years crowdfunding in Scotland has emerged as an increasingly important source of viable funding for business with the rate of growth indicating that Scotland is engaged in this emerging sector.


To review the full report please visit: www.glasgowchamber ofcommerce.com/projects/ projects-world-class-city/ crowdfunding-report


Further support


If you are interested in further support, our member twintangibles is offering online courses – a cost-effective way to support crowdfunding campaigns. For more information, please visit: www.udemy.com/ crowdfunding-to-win


...or contact Tim Wright, twintangibles, Email: tim@twintangibles.co.uk or Cheryl McCulloch, Glasgow Chamber of Commerce, Email: cheryl.mcculloch@glasgowchamberofcommerce.com


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