SouthWest crowdfunding helps City startup avoid venture capitalists
A London startup Escape the City has used Exeter-based crowd funding speciliasts Crowdcube to raise £600k in less then two weeks after turning down two offers of venture capital funding.
Initially the company raised £500k in 9 days and then extended the pitch by £100k to £600k, raising the extra tranche in under 4 days.
Ironically, Escape the City is a website that helps professionals to make career transitions. It has a community of more than 65,000 people who want to escape from unfulfilling corporate jobs – be it launching a start-up or joining a quirky company or non-profit organisation.