The UK’s first all-electric car club E-Car Club has been bought out by Europcar, Europe’s leading car rental company, bringing a handsome return on investment for its Crowdcube backers.
There were 63 people who pulled together £100,000 to help E-Car Club back in 2013 in exchange for 20% equity in the company.
E-Car Club went on to raise a further £500,000 from Centrica-backed social impact fund Ignite before being acquired by the European brand.
Luke Lang, cofunder and CMO of Crowdcube, said: “We’re pleased to announce that E-Car Club, a Crowdcube funded business, has just completed its first successful crowdfunding exit. A huge congratulations to the E-Car Club team and its investors.
“The 63 members of our crowd that invested in E-Car Club will receive a multiple return on their investment following E-Car Club’s sale to Europcar, Europe’s leading car rental and mobility company.
“Those investors have made an average of 12 investments each on Crowdcube, representing a diversified portfolio of investments in start-up, early and growth stage businesses from a range of sectors.
“This world first is a significant milestone for Crowdcube and the wider crowdfunding sector.”
More than 55,000 people have invested £53.4m on Crowdcube so far this year, with 270 companies backed raising finance on the site to date.