Accountants Smith & Williamson, which has a major office in Bristol, has been appointed by Crowdcube, one of the world’s largest equity crowdfunding platforms, as its full service accountancy and tax advisers.
Guy Swarbreck, a partner in Smith & Williamson’s assurance and business services division, will lead the team.
Founded in 2011, London-based Crowdcube offers businesses and investors an alternative means of funding and ha
s so far helped more than 60 businesses to secure in excess of £9m. It currently has almost 40,000 registered investors.
After raising £1.5m in May through its own website to finance further expansion, the company will now be working with Smith & Williamson to help support its growth plans. Smith & Williamson head of entrepreneurial services Guy Rigby said: “We are delighted to be working with Crowdcube. The business is at the cutting edge of alternative funding for the entrepreneurial and growth business sector in the UK and is actively expanding overseas. We are excited to be appointed at this important stage in the company’s development and to be providing a broad range of support.”
Crowdcube chief executive and co-founder Darren Westlake describes it as the world’s largest equity crowdfunding platform. Having already launched in Sweden, the company expects to be operating in Brazil later this summer, reaching the Middle East in the autumn. The funding platform is also looking to set up partnerships in the US, Canada, Australia, Mexico and India in due course.
Crowdcube is regulated by the Financial Conduct Authority and the investments it facilitates in the UK typically attract Enterprise Investment Scheme (EIS) Relief and/or Seed Enterprise Investment Scheme (SEIS) Relief.
