Futurepump Ltd, a manufacturer of solar-powered irrigation pumps for smallholder farmers in Africa and Asia, has raised over GBP450,000 in one week, by selling shares to investors in over 50 countries on the crowdfunding website Crowdcube.
Futurepump says it wanted to avoid the conventional corporate venture-funding route, and instead offer their customers across the world a chance to own part of the company.
Over 750 investors have so far taken them up on the offer, supporting their drive to fund further growth and drive down the costs of getting their solar technology to rural smallholder farmers.
Founder Toby Hammond says: “I’ve been burned in the past by choosing the wrong investors, and we all felt that crowdfunding was a far better fit with our company ethos, because everyone can get involved,from as little as a £10 investment”
“Our small team has built an amazing company because we all believe passionately in the social and environmental impacts of what we do, and this past week shows us that investors also want more than just a financial return.”
