Platform celebrates 'world's first' crowdfunding exit

 

63 investors who helped E-Car Club raise £100,000 in 2013 are to be given a multiple return on their investment following the sale of the business to Eurocar.

 

E-Car Club, the electric car-sharing club, was one of the first companies to seek funding via Crowdcube and has worked closely with councils, social landlords and communities to deliver improved economic, social and environmental outcomes for local residents.

 

Andrew Wordsworth, Co-Founder of E-Car Club, said they had absolutely loved raising investment on Crowdcube which really kickstarted their growth and they were grateful of the support received. 

 

“Without their initial investment, today's announcement and our ability to deliver social benefits within local communities would not have been possible,” said Andrew.  

 

“The funding process and professionalism of the Crowdcube team match their position as number one in the market and we're delighted that our investors, crowdfunders and angels alike, are realising a multiple return. 

 

“This demonstrates how Crowdcube can make a huge difference to business ideas, job creation and economic growth."

 

Luke Lang, another Co-Founder of Crowdcube, added: "The sale of E-Car Club to one of the world's leading car-hire companies and the multiple return delivered to the people who invested through Crowdcube marks another momentous milestone in the history of equity crowdfunding.

 

“Delivering financial returns are vital to the long term growth of equity crowdfunding so we're extremely proud to be the first to achieve this in just over two years after investors backed E-Car Club. 

 

“With over 260 businesses funded on Crowdcube I am certain that this will be the first of many."