UK crowdfunding platform launching in Sweden and the Nordics

The international crowdfunding platform Crowdcube is launching in Sweden and the Nordics. The launch makes it the first of its kind to receive European regulatory approval to operate in the region.

The UK share-based crowdfunding platform enables entrepreneurs to raise finance with the added benefit of being backed by their community.

The expansion means Nordic growth companies can raise external capital of up to 130 million SEK from private individuals across Europe, in exchange for co-ownership.

Crowdfunding in the Nordics made simple

In a press release, Crowdcube says this marks a new model of funding for the Nordic tech scene.

The new EU regulation came into effect in November, bringing in line the existing patchwork of crowdfunding regulations across Europe.

The company’s regional manager, Mikael Angesjö, says they’re excited to finally launch here because the Nordic startup scene is highly innovative.

“The new EU regulation unleashes huge potential for Nordic growth companies that want to convert their best customers into investors and drive engagement, loyalty and advocacy from their communities,” Angesjo said in the press release.

“The Nordics has a great number of companies that can benefit from topping up their investment rounds from thousands of retail investors, and at the same time build a committed community of ambassadors.”

Want to help fast-growing fintech startups

Crowdcube says they raised €1.2bn for 1,130 UK and European businesses, since its inception in 2011. They see potential to help fast-growing fintech companies supplement their A,B or C rounds with capital from individuals.

“Crowdcube’s launch in the region is the latest step in our plans to expand into new markets across Europe, and we’re hugely excited to give Nordic founders access to a new source of investment,” CEO and Co-founder Darren Westlake said.

Crowdcube says they provides a way for investors to hand-pick a stake in an innovative business they believe in that traditionally would have been restricted to professional investors.