Funding platform and law firm join forces

An equity crowdfunding platform that has worked with craft beer firm Brewdog has teamed up with a Scottish law firm to target what they see as an untapped market for this type of capital-raising north of the Border.

Crowdcube and Harper Macleod are today launching a strategic partnership, and an event is being held in Glasgow tonight to mark the occasion, highlighting Scottish equity crowdfunding success stories and the opportunities as other sources of funding for startups and growth businesses come under more pressure.

Crowdcube said it last year saw £1.7 million raised for three Scottish firms, but this represents only 6 per cent of its UK market.

The firm’s chief commercial officer Matt Cooper, who is speaking at the Glasgow event, said: “Whilst Crowdcube has helped fund a number of businesses in Scotland, including Ellon-based Brewdog, we think there is a huge opportunity to further support businesses in the country.”

He also said the strategic partnership “is the first step in making sure that Scottish businesses do not miss out”.

Paula Skinner, a partner in Harper Macleod’s corporate team, said the law firm has seen the crowdfunding market mature in recent years, with Crowdcube now the top source of Series A level funding in the UK. She added that the tie-up with Crowdcube “will benefit all the people we work with within Scotland’s entrepreneurial ecosystem and I believe it’s another positive step in the constant push to helping our businesses scale up to the next level”. 0 ‘Positive step’: Paula Skinner of Harper Macleod