Spanish startups make more than €1 million through crowdfunding site

A CROWDFUNDING site for Spanish startups is redefining the way businesses are born.

Six businesses have raised a combined figure of more than €1 million using Crowdcube’s crowdfunding site since it launched last year.

They include Barcelona-based drone company HEMAV which broke the record for the largest crowdfunding total in Spain, raising €450,000 in only six days.

Managing director of Crowdcube Spain, Pepe Borrell, said he is committed to ‘bridging the gap’ for startups in Spain.

“There is a real gap in funding for start-ups and early stage businesses in Spain so I’m pleased that we’ve already been able to fund six businesses and that Spanish investors are embracing crowdfunding,” he said.

“There’s a huge potential market for crowdfunding in Spain so we’re excited about the future of Crowdcube Spain.”