While the U.S. is still finding its feet, the UK has been running equity crowdfunding at scale for over a
decade. Platforms like Seedrs (now Republic Europe) and Crowdcube have become household names in the startup ecosystem.
Seedrs: Numbers That Dwarf U.S. Medians
In 2023, Seedrs facilitated £353 million (~$443.5M) across 266 campaigns. That’s an average of £1.3
million per campaign, a figure that instantly highlights the gulf between U.S. Reg CF medians
(~$113k) and UK platform norms.
Seedrs campaigns regularly hit £100k to £5M+, and successful campaigns often leverage lead
investors or syndicate participation to give credibility before retail money follows.
Crowdcube: Still a Heavyweight
Crowdcube, Seedrs’ longtime rival, also runs hundreds of campaigns annually with round sizes in the
hundreds of thousands to millions. Crowdcube has even moved toward creating a secondary market, a feature still largely absent at scale in the U.S.
Market-Level Trends
• Beauhurst’s State of UK Equity Crowdfunding (2025) shows:
• 4,254 rounds across 2,514 companies from 2014 – 2024.
Deal flow peaked in 2021 (569 rounds) but dropped to 297 rounds in 2024 – a decline tied to
macroeconomic headwinds and investor caution.
Still, UK equity crowdfunding remains far more institutional-friendly and hybridized than the U.S.
model. Retail investors mingle with angels and family offices, making round sizes much larger.
Europe: Fragmentation and Growth Potential
Beyond the UK, equity crowdfunding in Europe is highly fragmented. Each country has its own
regulations, though EU harmonization under the European Crowdfunding Service Providers
Regulation (ECSPR) is gradually creating a unified passportable regime.
- Market reports estimate hundreds of millions annually across the EU, but nothing close to
the scale of the UK. - Typical rounds fall in the €100k – €2M range.
- Investor mixes are diverse: some platforms focus on retail, others on accredited or semiprofessional investors.
- This patchwork has slowed adoption, but ECSPR may change the game by allowing platforms to
operate cross-border more easily.
