Crowdcube filed its annual report for the fiscal year ending in September 2016 reporting a 48% increase in turnover from £2,691,422 in 2015 to £3,974,464 on the 30th of September 2016.
Crowdcube’s CFO Bill Simmons told Business Insider:
Crowdcube’s increase in revenue is representative of our continued growth, as well as the growing popularity of equity crowdfunding, which for many is now the first choice when it comes to raising finance.
However, the company, founded in 2009 and which recently disclosed its internationalization plans focusing on Europe by targeting Spain, France and Netherlands while holding 48% market share in the UK, ended the financial period with a loss of £5,362,321 in line with the one reported in 2015 (£5,012,282).
Moreover, even though the investement platform confirmed to be in a good shape thanks to a steep increase of working capital which almost doubled passing from £4,647,559 (2015) to £8,460,983 (2016), at the same time registered a 6% decrease in workforce productivity which passed from £49,841 sales revenue per employee to £46,758 despite 31 new hirings which brought the total number of employees from 54 to 85 (+57%). The cost of this has been £95,573 in lost revenues.
With regard to the European activity, Crowdcube documented revenues up to £96,312 from £7,366 in 2015.
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