Before today, UK equity crowdfunding platform Crowdcube has raised more than £173m from over 295,000 investors to complete 426 successful raises, and described itself as the world’s leading investment crowdfunding platform. Minutes ago that status was confirmed when Crowdcube exceeded a £5m target and had raised a £5,003,024m investment for themselves from 1,627 pre-registered early investors. This was their largest ever raise and they are still open to further investors.

This initial target of £5m was set against 7.14% equity, valuing Crowdcube at just over £70m. A stretch target for over-funding could see up to a total of £12m raised. Fundraising is due to move to Stage 2 tomorrow (July 19) when Crowdcube will open their doors to investments from the general public.

In total, would-be investors have apparently registered an interest in buying £50m of shares in the company, and Crowdcube is believed to be setting up a secondary market where successful purchasers will be able to trade their newly acquired shares. If they do, then given that demand appears to exceed supply by a factor of over four there could be some early ‘stag market’ sales for quick returns.