Press release – for immediate publication
Stockflare overfunds on Crowdcube in 2 weeks with substantial funding from the London Co-investment Fund (backed by the Mayor of London through the Growing Places Fund)
**London, 24th August 2015 ** - Stockflare, the London-based startup making it easier for private investors to pick stocks that are right for them, closed its investment round on Crowdcube in just 2 weeks having overfunded with over £445,000 raised from 285 investors (versus an original target raise of £300,000). The fund raise closed several weeks ahead of schedule. This success was underpinned by one of the first investments from the London Co-investment Fund to a FinTech startup. Halfway thorough the fund raise, LCIF decided to increase its investment pledge to £100,000 from £75,000.
Luke Lang, Co-founder of Crowdcube said: “Again, Crowdcube has successfully helped another exciting start-up exceed it funding targets. As the only crowdfunding platform working with the London Co-Investment Fund, we’re delighted to have helped eight start-ups so far raise the investment they need to take their business to the next level. We look forward to helping Stockflare and the other London-based technology start-ups over the long-term.”
The London Co-Investment Fund (LCIF) was founded and is managed by Funding London and Capital Enterprise. It has raised £25m from the Mayor of London’s Growing Places Fund to invest in high growth tech, science and digital startups in London. Stockflare is one of the first FinTech startups to gain investment from LCIF, and the first to do so via Crowdcube.
John Spindler, Co-founder of the London Co-Investment Fund, and CEO of Capital Enterprise said: “In our first 9 months, the London Co-Investment Fund has backed over 20 start-ups in partnership with some of the UK’s leading venture capital firms. We look forward to welcoming Stockflare to the LCIF family and help them expand their team here in London”.
Stockflare provides – free of charge – uniquely clear and insightful information about more than 45,000 stocks listed on exchanges around the world. Its mission is to make it easier than ever for private investors to find the stocks that are right for them, by providing extensive analysis that can be readily understood and used by investors of any experience level.
Shane Leonard said: *“The concept of Stockflare came to me after years of watching small investors pay high charges but get mediocre, not superior returns. Unfortunately, most fund managers fall short of their benchmark, consistently. Through my experience working in equity markets I knew that with the right tools, most investors can look after their investments as well as the professionals would, but at a fraction of the cost. Stockflare delivers those tools to small investors around the world for free.
“The speed we completed the round, and the 50% overfunding achieved shows the belief that is out there amongst investors that there must be ‘a better way’ and that Stockflare offers great promise of being just that.”*
Through its beta phase, Stockflare has already recruited over 10,000 users across the UK, USA and other countries across the globe. The site has been honed and developed further with feedback from these users, based on their real-world experience of using Stockflare.
Stockflare provides all its data and investor tools for free. Its business model is to partner with high-quality low-cost brokerage firms in key markets, including the UK and the USA. These partners’ services integrate directly into Stockflare’s website, so users can open accounts and manage their investments via Stockflare. Stockflare’s first brokerage service will launch in the autumn, enabling anyone in the world to open a US brokerage account.
For further information, please contact Shane Leonard of Stockflare on +44 78 0154 9537 or email@example.com, Divya Jain of the London Co-investment Fund on +44 20 7043 0739 or firstname.lastname@example.org and Becca Lewis of Crowdcube on +44 1392 241 319 or email@example.com.
Notes for Editors
- For more details on the fundraising please visit Crowdcube at https://www.crowdcube.com/investment/stockflare-limited-19320
- Stockflare is an information company focused on delivering objective financial data to small investors.
- Our primary data partner is Thomson Reuters
- Stockflare is incorporated in England (company number: 08522490)
- Other companies that have received the support of LCIF and completed their fund raise via Crowdcube include: GamesGrabr; Droplet; Shoot; Chirp, and; Powervault.