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Crowdfunding is the new phenonemon, and it's taking the world by storm

GrowthFunders have been featured in a recent article posted in The Journal. The article explains how crowdfunding (once a 'hip' and fun way to invest in businesses and products you liked) is quickly becoming the most exciting way to invest online. 

"Currently, there are at least 80 crowdfunding platforms in the UK alone, with the North East getting its share of the scene through the likes of GrowthFunders, the region’s first online equity crowdfunding platform.

Norman Peterson, who co-founded the business with his brother Craig, said: “The aim of GrowthFunders is to streamline the fundraising and investing process.

“Entrepreneurs can get their businesses in front of potential investors who in turn are excited to play their part in supporting a new wave of Great British businesses.

“Depending on personal and company circumstances, investors can receive up to 78% tax relief on SEIS-compliant deals. Investing in this way was previously available only to wealthy individuals – think Dragons’ Den - but GrowthFunders’ unique structure means that suitably-qualified individuals can become online angels and invest from as little as £100.”

 

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The first business GrowthFunders supported was the Stockton-based Lewis Pennicott Design Ltd, which raised £10,000 in its Proof of Concept funding round for the prototype of its kitchen product, Chop2Bowl.

Growthfunders has also helped the likes of the County Durham-based Soccer Factory leisure facilities and Vega V, a business providing a sports training system.

Craig Peterson added: “The interest up to this point has been fantastic. We’re working with some very talented entrepreneurs and are excited about the next 50 deals we have in the pipeline that will be listing on the platform over the course of 2014. We are also looking forward to welcoming investors to the site.”

 

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Growth Capital Ventures (GCV) is backed by funds managed by Maven Capital Partners, one of the UK’s leading private equity and alternative asset managers.