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10 March 2022

UKCFA launches 36h group


16 June 2021

Today the British Business Bank is launching its latest annual Small Business Equity Tracker Report

20 January 2021

Record breaking year for equity crowdfunding as 433 campaigns successfully raised £332 million in 2020.

13 October 2020

Crowdfunding has raised over £1.5bn from 2,400 rounds of funding since 2011. But will it prove to be a good investment for private investors? Now a new service from Equity Crowd Expert provides all the inside information you need to know to understand this growing asset class.

6 October 2020

Final vote on EU rules for crowdfunding platforms

Record breaking quarter for equity crowdfunding raising £111mn for 106 campaigns as main platforms announce merger

5 October 2020

Crowdcube and Seedrs plan to merge to create one of the world’s largest private equity marketplaces

22 July 2020

Independent Fintech Strategic Review: terms of reference – Policy Paper

Regulatory Framework for Approval of Financial Promotions (Open Discussion)

26 June 2020

CCAF-World Bank-World Economic Forum Global Covid-19 FinTech Market Rapid Assessment Survey

25 June 2020

Equity investment in smaller UK tech businesses increased 27% to £4.0bn last year

27 February 2020

Growth in small businesses using alternative finance continues, while gross bank lending flatlines, finds British Business Bank research


2 September 2019

Small Business Advice Week Supported by British Business Bank

20 June 2019

British Business Bank Start Up Loans Programme Lends £500m to UK Small Businesses

14 June 2019

UK Smaller Businesses Receive a Record £6.7bn Equity Finance Investment

UK Smaller Businesses Receive a Record £6.7bn Equity Finance Investment

UKBAA Angel Investment Awards 2019

Tuesday 2nd July 2019, Illuminate at the Science Museum, London

UKBAA Angel Investment Awards 2019 Tuesday 2nd July 2019, Illuminate at the Science Museum, London

Connected Investing Manchester

Connected Investing Bristol

Connected Investing Cardiff

Connected Investing Newcastle

Crowdfunding in search of the next Apple or Facebook

How young people are piling their savings into start-ups in search of business ‘unicorns’ by Nikou Asgari from Financial Times

Crowdfunding in search of the next Apple or Facebook

Seven Tips For A Successful Crowdfunding Campaign

With the peer-to-peer finance sector now growing at a rate of 35 per cent a year, increasing numbers of UK-based small and medium-sized enterprises are turning to crowdfunding as a viable source of investment capital. But if you’re thinking about raising money in this way during 2019, don’t assume that the platforms’ continuing expansion means you’re guaranteed to achieve your ambitions. Successful pitches require hard work


UKCFA Says News About IFISA Uptake is Great for Investors and the UK Economy

The UK Crowdfunding Association (UKFCA) issued a statement on the IFISA report

Guide to crowdfunding and P2P lending

Crowdfunding and peer-to-peer (P2P) lending have become the funding source du jour – not least with the news of Funding Circle’s expected initial public offering (IPO), valuing the firm at £1.5bn.

UKCFA Welcomes FCA Review of Crowdfunding and P2P Lending

The UKCFA welcomes the publication of the long awaited FCA review of crowdfunding and p2p lending and welcomes the further alignment of P2P and Investment Crowdfunding regulation. The process of the review has involved giving the FCA unprecedented access to our customer data and senior managers to examine all elements of the diverse range of businesses which make up this growing and important sector of financial services.

UK Government Ups Crowdfunding without Prospectus to €8 Million – Matching Germany

In a significant policy move by the UK government, the threshold for investment crowdfunding has been upped to €8 million thus matching the recent change by Germany which announced the same funding limit. This increase is due to a change in the Prospectus Directive.

Crowdbond platforms set for bigger projects amid fundraising rule change

CROWDBOND platforms may offer bigger projects from later this month after the government approved legislation to increase the threshold for exemption from the Prospectus Directive from €5m (£4.4m) to €8m (£7.07m).

BWB Compliance expands with specialist hire

New hire brings added knowledge and expertise in Peer-to-Peer (P2P) and crowdfunding sectors

FinTech North Liverpool is next week!

FinTech North Liverpool 2018 is on next Tuesday 12th June.


How UK councils are crowdfunding themselves out of a crisis

Taken from The Independent 15 May 2017

Since 2015, 45 councils across the UK have used civic crowdfunding to plug gaps

The National Crowdfunding Association of Canada release a ground-breaking report on the state of the alternative finance crowdfunding industry in Canada.

Fresh Research Just Released

TORONTO, ON December 13, 2016 – The National Crowdfunding Association of Canada (NCFA Canada) and partners are pleased to release a ground-breaking report on the state of the alternative finance crowdfunding industry in Canada.


UKCFA responds to the FCA’s feedback statement relating to their review of the rules for Crowdfunding

Today the FCA published its interim feedback to the call for input to the post-implementation review of the FCA’s crowdfunding rules in Feedback Statement (FS16/13).

UKCFA welcomes launch of updated Business Finance Guide

The UK Crowdfunding Association is delighted to partner with the Institute of Chartered Accountants on the latest edition of the Business Finance Guide.

UK Crowdfunding Association responds to EU referendum outcome

The UK Crowdfunding Association (UKCFA) has worked hard to create a more diverse, innovative and resilient financial system that gives people a real choice about how they invest, save and donate their money for things they care about.

London Technology Week: Blitzing Regulation for FinTechs

21-23 June 2016

We’re running workshops for FinTech firms keen to work out their regulatory issues.

UK Crowdfunding Association elects new Directors at Annual General Meeting

Newly elected UKCFA Directors (from left to right): Bruce Davis, Abundance Generation; Paul Massey, Crowdcube; Martin Smulian, FundingKnight; Karen Kerrigan, Seedrs; Kate Eggleshaw, JustGiving; Justin Hubble, Property Partner; Atuksha Poonwassie, Simple Backing; Julia Groves, Downing LLP; Frank Mukahanana, Quidcycle.

Series 3 of The Seed and EIS Hour begins May 16th

Series 3 of The Seed & EIS Hour begins May 16th and moves to Monday evenings. The Seed & EIS Hour begins its 3rd season on May 16th.

European Crowdfunding platforms unite in support of Capital Markets Union. Call for ambitious reforms of the Prospectus Directive

European crowdfunding platforms, represented by the European Crowdfunding Network, the UK Crowdfunding Association, Financement Participatif France and Nederland Crowdfunding welcome the current EU debates in Brussels regarding the Prospectus Directive, aimed at making it easier for Small and Medium Sized Enterprises (SME) across Europe to raise finance.

Katipult and MANGOPAY partner to bring a new investment crowdfunding software to UK Market

The Canadian company Katipult launches its white-labelled crowdfunding software in the UK.   It partners with the payment company MANGOPAY in order to bring a comprehensive and compliant crowdfunding solution to the UK market.

Fintech North spotlights alternative finance in North England

Mark your calendars for the 27th of April for an event that highlights the bursting alternative finance sector in the north of England.


Paul Bailey, 2013, Branding Post-Capitalism: How a tool for the capitalist, industrial economy might develop for an emergent and relational post-industrial economy, in which the ‘crowd’ is the contributor of a company’s essential financial capital that enables production. @paulmarkbailey |

DEEP Centre report, Catalyzing Growth, Investment and Access to Capital, 2013,

TechCity News, The Future of Crowdfunding, 2013,

Opalesque, Private Equity Strategies Insiders View: M&A, Crowdfunding Trends – 2013,

CBI, Ripe for the picking: A guide to alternative sources of finance, 2013,

Show me the Money: Opening up Big Data in Finance

Changing Banking for Good – Report of the Parliamentary Commission on Banking Standards

Respective scopes of EU and national laws concerning crowdfunding operations. How to change legal framework at both levels

The Government’s Response to the Parliamentary Commission on Banking Standards

Crowdfunding for Europe wiki

Regulation of Crowdfunding in Germany, the UK, Spain and Italy and the Impact of the European Single Market

A Framework for European Crowdfunding (2012)

BBVA report, pp.28-34, US Economic Outlook,

Swept Away by the Crowd? Crowdfunding, Venture Capital, and the Selection of Entrepreneurs

Can Social Finance Meet Social Need, Robbie Davison,

Crowdfunding An alternative source of funding with potential. Deutche Bank

Crowdfunding: The Scottish Perspective, Glasgow Chamber of Commerce and Twintangibles,

Crowdfunding for Climate Change climate action at the local level?

Is Crowdfunding Right For You?

Burtch et al., 2013, Cultural Differences and Geography as determinants of online pro-social lending

Kuppuswamy et al., 2013, Crowdfunding creative ideas: the dynamics of project backers in Kickstarter

Read, 2013, Crowdfunding: an Empirical and theoretical model of non-profit support

Hollow, 2013, Crowdfunding and Civic Society in Europa: a profitable partnership?

The CDFI Jobs Portal & Crowdfunding Regulations Enhancing the job-creation impact of the Crowdfunding Act through CDFIs

Markowitz, E. (2013), “When Kickstarter Investors Want Their Money Back,” Inc., Jan 10,

Working Collective Intelligence: the case of p2p lending

Is crowdfunding doomed in Sweden? An empirical examination of institutional logics, perceived affordances, and IT entrepreneurial behaviour Crowds, a metriangulation of crowdfunding research, Gleasure, 2013

Sakamoto et al., 2013, Achieving Sustainable Society through Micro-level crowdfunding

Berglin et al., 2013, Leveraging Customers as Investors: the Driving Forces behind Crowdfunding

Giudici, 2013, Why crowdfunding can succeed: the role of proponents’ individual and territorial social capital

Cumming, 2013, Demand driven securities regulations: Evidence from crowdfunding

NESTA: The Venture Crowd: Crowdfunding Equity Investment into Business

Li, 2013, Fraud in crowdfunding and anti-fraud insurance

M. Moodie, 2013 “Microfinance and the Gender of Risk: The Case of”

K. E. Davis and A. Gelpern, “Peer-to-Peer Financing for Development: Regulating the Intermediaries”, New York University Law and Economics Working Papers. New York University, 2013.

Bayus, B. (2013), “Crowdsourcing New Product Ideas Over Time: An Analysis of the Dell IdeaStorm Community,” Management Science, 59 (January), 2013, 226-244,

Taking on the money lenders 2013 – Lesson from Japan

Why consumers now love to shop for products and services at concept stage,

Cavaglieri, C. (2013), Crowdfunding: There’s no rush to join the hordes,

Jansen, E. (2013), Is the crowd a feasible design partner?,
Jeffries, A. (2013), Kickstarter is not a store, except when it is,


Crowdfunding: Maximizing the Promise and Minimizing the Peril,

Crowdfunding in a Canadian Context. Exploring the Potential of Crowdfunding in the Creative Content Industries

Wortham, J. (2012), “Start-Ups Look to the Crowd,” New York Times, April 29,

Massolution (2012), “Crowdfunding Industry Report,” Mayl (accessed May 8, 2012).

Crowdfunding – a report by Adeoluwa Adeniyi

Bradford, C. (2012), “Crowdfunding and the Federal Securities Laws,” Columbia Business Law Review, 1, 1-150,

Burtch, G., A. Ghose, and S. Wattal (2012), “An Empirical Examination of the Antecedents and Consequences of Investment Patterns in Crowd-Funded Markets,” available at SSRN:, forthcoming in Information Systems Research.

Gerber, E., J. Hui, and P. Kuo (2012), “Crowdfunding: Why People are Motivated to Post and Fund Projects on Crowdfunding Platforms,” Design, Influence, and Social Technologies Workshop at Computer Supported Cooperative Work,

Gerber et al., 2012, Why people are motivated to crowdfund.

Mollick, E. (2012), “The Dynamics of Crowdfunding: Determinants of Success and Failure,” available at SSRN:

Ward, C. and V. Ramachandran (2010), “Crowdfunding the Next Hit: Microfunding Online Experience Goods,” University of Massachusetts Working Paper,

Hughes, 2012, Virtual worlds, augmented reality, blended reality

Belleflamme et al., Crowdfunding: An Organisational perspective, Zhang, 2012

Matos, 2012, Crowdfunding: Material incentives & Performance

Gerber et al., 2012, Crowdfunding: Why people are motivated to post and fund projects on crowdfunding platforms

Yum et al., 2012, From the wisdom to the wealth of crowds: A Metatriangulation of Crowdfunding Research

Hermes, 2012, Microfinance: its impact, outreach and sustainability.

Hazen, T. (2012), “Social Networks and the Law: Crowdfunding or Fraudfunding? Social Networks and the Securities Laws—Why the Specially Tailored Exemption Must be Conditioned on Meaningful Disclosure,” North Carolina Law Review, 90, 1735-1807,

P. Ly and G. Mason, “Competition Between Microfinance NGOs: Evidence from Kiva”,World Development, vol. 40, pp. 643-655, 2012,

A. Merritt and T. Stubbs, “Complementing the local and global: promoting sustainability action through linked local-level and formal sustainability funding mechanisms”, Public Administration and Development, vol. 32, pp. 278-291, 2012,

C. S. Bradford, “Crowdfunding and the Federal Securities Laws”, Columbia Business Law Review, pp. 1-150, 2012,

I. E. Sorensen, “Crowdsourcing and outsourcing: the impact of online funding and distribution on the documentary film industry in the UK”, Media Culture & Society, vol. 34, pp. 726-743, 2012,

G. Burtch, A. Ghose, and S. Wattal, “An Empirical Examination of Cultural Biases in Interpersonal Economic Exchange”, in ICIS, 2012,

L. R. Heller and K. D. Badding, “For compassion or money? The factors influencing the funding of micro loans”, The Journal of Socio-Economics, vol. 41, pp. 831-835, 2012,

H. Yum, B. Lee, and M. Chae, “From the wisdom of crowds to my own judgment in microfinance through online peer-to-peer lending platforms”, Electronic Commerce Research and Applications, vol. 11, pp. 469-483, 2012,

P. Ly and G. Mason, “Individual Preferences Over Development Projects: Evidence from Microlending on Kiva”, Voluntas, vol. 23, pp. 1036-1055, 2012,

L. Dezső and G. Loewenstein, “Lenders’ blind trust and borrowers’ blind spots: A descriptive investigation of personal loans”, Journal of Economic Psychology, vol. 33, pp. 996-1011, 2012,

S. C. Beer and K. E. Badura, “The New Renaissance: A Breakthrough Time For Artists”,Berkeley Journal of Entertainment and Sports Law, vol. 1, pp. 66-74, 2012,

Judging Borrowers By The Company They Keep: Social Networks and Adverse Selection in Online Peer-to-Peer Lending, Mingfeng Lin, N.R. Prabhala**, and Siva Viswanathan*

J. Duarte, S. Siegel, and L. Young, “Trust and Credit: The Role of Appearance in Peer-to-peer Lending”, Review of Financial Studies, vol. 25, pp. 2455-2483, 2012,

Shontell, A. and M. Dickey (2012), “17 New Ideas That Are Actually Worth Millions,” Business Insider,

Smith, S., F. Windmeijer, and E. Wright (2012), “The Effect of Social Information on Charitable Donations:  Evidence from the (Running) Field,” University of Bristol Working Paper,

Chasan, E. (2012), “Crowd-Funding Industry Braces for Regulation,” Wall Street Journal,

Bates Wells & Braithwaite (2012): Ten Reforms to Grow the Social Investment Market.

Best, J., Neiss, S. and Jones, D. (2012): How Crowdfund Investing Helps Solve Three Pressing Socioeconomic Challenges.

Canadian Media Fund – CMF (2012), ‘Crowd Funding in a Canadian Context: Exploring the potential of crowdfunding in the creative content industries’,

 UKIE (2012), ‘UKIE Crowd Funding Report: A proposal to facilitate crowd funding in the UK’,
Downs, D. (2012), 5 Kickstarter projects slammed with success,
Freeman, K. (2012), What’s so great about the Pebble smartphone watch?,
Gouillart, F. (2012), Co-Creation: The Real Social-Media Revolution,
ISB (2012), How Peer to Peer Communities will change the World,
Lumos. (2012), Finance 2.0 – Wall St meets the web,
Lumos. (2012), Business model breakdown: Crowdfunding,
Wired (2012), ‘Power of the masses’: relive Yossi Vardi’s talk at Wired 2011,


Crowdfunding Schemes in Europe

Belleflamme et al., 2011, Crowdfunding: Tapping the right crowd –

Sonenshein, 2011, How accounts shape lending decisions through fostering perceived trustworthiness

A. Ordanini, L. Miceli, M. Pizzetti, and A. Parasuraman, “Crowd-funding: transforming customers into investors through innovative service platforms”, Journal of Service Management, vol. 22, pp. 443-470, 2011,

Horowitz, S. (2011), Occupy Big Business: The Sharing Economy’s Quiet Revolution, ,

S. Sonenshein, M. Herzenstein, and U. M. Dholakia, “How accounts shape lending decisions through fostering perceived trustworthiness”, Organizational Behavior and Human Decision Processes, vol. 115, pp. 69-84, 2011

Jamali, H. and M. Nikzad (2011), “Article Title Type and Its Relation with the Number of Downloads and Citations,” Scientometrics, 88(2), 653-661.

Ricker, T. (2011), “Kickstarted: How One Company is Revolutionizing Product Development,” The Verge, December 20, .

Adler, C. (2011), “How Kickstarter Became a Lab for Daring Prototypes and Ingenious Products,”

Agarwal, A., C. Catalini, and A. Goldfarb (2011), “The Geography of Crowdfunding,” available at SSRN:

Hemer, J. (2011), “A Snapshot on Crowdfunding,” Fraunhofer ISI Working Paper, ,

Bielsko-Biala Declaration: Realising the full potential of crowdfunding initiatives (2011),


Herzenstein et al., 2010, Tell me a good story and I may lend you my money: The role of narratives in peer-to-peer lending decisions

Agrawal, A., Catalini, C., and Goldfarb, A. (2010). The Geography of Crowdfunding. Mimeo.

Botsman, R. (2010), Rachel Botsman: the case for collaborative consumption, , Dec 2010, web page [Accessed 31/03/2013]

Mod, C. (2010), “Kickstartup: Successful Fund Raising with,”

Economist (2010), “Putting Your Money Where Your Mouse Is,” September 2,

Freedman, S., and G.Z. Jin (2010), Learning by Doing with Asymmetric Information: Evidence from Mimeo. Available on SSRN

Oestreicher-Singer, G. and Sundararajan, A. (2010). The Visible Hand of Peer Networks in Electronic Markets. Mimeo.

Ward, C., and Ramachandran, V. (2010). Crowdfunding the Next Hit: Microfunding Online Experience Goods. Mimeo.

Wooldridge, J (2010), Econometric Analysis of Cross Section and Panel Data, Cambridge, MA: MIT Press.


Kappel, T. (2009), Ex Ante Crowdfunding and the Recording Industry: A Model for the U.S.?. Loyola of Los Angeles Entertainment Law Review 29: 375-385.

Rao et al., 2009, Energy-microfinance for below poverty line households in India

Lin et al., 2009, Judging borrowers by the company they keep: social networks and adverse selection in online peer-to-peer lending

Ghatak, M., and H. Mueller (2009), Thanks for Nothing? Not-forProfits and Motivated Agents. LSE STICERD Research Paper Nbr. EOPP 014.


Albors, J., J.C. Ramos and J.L. Hervas (2008), New Learning Network Paradigms: Communities of Objectives, Crowdsourcing, Wikis and Open Source. International Journal of Information Management 28: 194-202.

Brabham D.C. (2008), Crowdsourcing as a Model for Problem Solving: An Introduction and Cases. Convergence: The International Journal of Research into New Media Technologies 14: 75- 90.

Everett, C.R. (2008), Group Membership, Relationship Banking and Loan Default Risk: The Case of Online Social Lending. Mimeo. Available on SSRN:

Simonsohn, U. and D. Ariely (2008), “When Rational Sellers Face Nonrational Buyers: Evidence from Herding on eBay,” Management Science, 54(9), 1624-1637.

2007 and before

Howe, J. (2006) The Rise of Crowdsourcing. Wired 14 (6), available online at:

Markey, P. (2000), “Bystander Intervention in Computer-Mediated Communication,” Computers in Human Behavior, 16, 183-188.

Ariely, D. and I. Simonson (2003), “Buying, Bidding, Playing, or Competing? Value Assessment and Decision Dynamics in Online Auctions,” Journal of Consumer Psychology, 13(1&2), 113-123,

O’Reilly, T. (2007), What is Web 2.0: Design Patterns and Business Models for the Next Generation of Software. Communications & Strategies 65: 17-37.

Glaeser, E.L., and A. Shleifer (2001), Not-for-Profit Entrepreneurs.Journal of Public Economics 81: 99-115.

Vesterlund, L. (2006), “Why Do People Give?” in W. Powell and R. Steinberg (eds.), The Nonprofit Sector: A Research Handbook, New Haven, CT: Yale University Press, 568-590

Garcia, S., K. Weaver, G. Moskowitz, and J. Darley (2002), “Crowded Minds: The Implicit Bystander Effect,” Journal of Personality and Social Psychology, 83(4), 843-853,

Latane, B. and S. Nida (1981), “Ten Years of Research on Group Size and Helping,” Psychological Bulletin, 89(2), 308-324.

Bhid´e, A. (1992), Bootstrap Finance: The Art of Start-ups. Harvard Business Review 70 (66): 109-117.

Katz, M. and Shapiro, C. (1985). Network Externalities, Competition and Compatibility. American Economic Review 75: 424-440.