Website networks merge
TWO South West crowdfunding websites are to merge creating the UK's leading network.
Exeter's Crowdfunder, run by equity crowdfunding company Crowdcube, will join forces with Plymouth's Peoplefund.it, launched by KEO digital, the makers of rivercottage.net, fishfight.net, landshare.net and energyshare.com.
Peoplefund.it and Crowdfunder will combine technology, marketing, branding and teams.
It is hoped the move will grow a market already estimated to be worth £80million in the UK.
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"It's a game-changing move for Peoplefund.it and makes us the UK's leading crowdfunding network," says Nick Underhill, Peoplefund.it's co-founder.
Crowdfunder founder Darren Westlake added: "The merger of Crowdfunder and Peoplefund.it makes a huge amount of sense for UK projects that need funding."
Backed by Plymouth University, Peoplefund.it has already created a network which includes WeDidThis, the Arts and Culture funding platform, and publishing crowdfunder Unbound.
Peoplefund.it enables people with a business idea to ask the public for the funding. The business sets a target for the money it wants to raise and explains how it will use the cash.
People can then make pledges for small amounts in return for a reward if the target is reached.