The total amount of funds invested has reached £17m across all providers so far.

Crowd2Fund was one of the first platforms to become IFIsa approved, and has been offering the products to its users since April 2016.

Since its launch, the total amount of funds invested in Crowd2Fund’s IFIsa has reached more than £10m.

IFIsa investments into the platform since January 2017 have increased exponentially with 28.5% month-on-month growth.

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In total, 983 of the individuals who opened an IFIsa in the 12-month period ending 31st March 2017 did so through Crowd2Fund; this represented 49% of the entire investor base of the IFIsa within the UK, according to HMRC.

The popularity of Crowd2Fund’s IFIsa has been helped by its APR, which currently stands at an average 9.2% when measured across all businesses.

So far, no campaigns invested through the IFIsa have defaulted.

Some 189 businesses from a diverse range of sectors – including retail, clothing and manufacturing – have received the backing of private investors on Crowd2Fund.

Crowd2Fund’s internally generated forecast has predicted that £2m of IFIsa funds will be transacted on the platform within the next month, with the figure rising to £32m and £639m in one and two years respectively.