Downing’s first crowdfunded bond powered by ShareIn reaches £3.2M target. The raise was Downing’s first crowdfund on it’s newly launched platform.
This is the first time our platform has been used for bonds and we are thrilled with the results. Our technology enabled Downing to launch fast and the ability to customise the platform for Downing’s products and customers.
Downing Crowd offered a one-year fixed rate 6.25% crowdfunded bond that closed 21 days ahead of its deadline. Downing’s first crowdfund was for Kenninghall Solar Farm.
The success of Downing’s crowdfund coincides with the launch of another renewable energy project we’ve been working with. Riversimple, a hydrogen powered car company, earlier this week launched an equity crowdfund to match a €2M EU grant with the use of our Microsite. More information can be found here: riversimple.sharein.com
Downing’s crowdfunding business will be led by Julia Groves, Founding Chair of the UK Crowdfunding Association.
Tony McGing, Chief Executive of Downing said:
“We have major ambition in the crowdfunding space, and we are delighted to be bringing Julia on board, with her extensive experience in the sector. The success of our first bond is evidence of both our capability and market demand. There will be much more to come from Downing Crowd under Julia’s leadership in the months ahead.”