News - 26/11/2013

BandApp launches a £250k fundraise via Crowdcube

BandApp launches a £250k fundraise via Crowdcube

Mobile music startup BandApp is seeking a £250k investment and has decided to raise it via UK equity crowdfunding platform Crowdcube.

Following in the footsteps of successful "crowd-vestment" campaigns by the likes of Clearbooks, which raised £839k earlier this month by tapping into its core customer base, BandApp is reaching out to users and investors alike with an affordable entry price point, just £10.

BandApp is building an ecosystem of mobile apps based on HTML5 technology providing a cost-effective and flexible solution for bands that want a mobile presence without the costs and long lead times of building a native app. The aggregate community of bands present on the platform is also generating a valuable ecosystem play whereby fans that download a specific BandApp will also be able to discover other artists that fall within the same genre.

Looking at the financials, the equity offered for the entire £250,000 investment is just 5% which puts the company valuation at £5 million. This means that a £1,000 investment will buy you a 0.02% stake in the company. As with any startup investment this requires a leap of faith that the company's valuation reflects its current state and that it can grow in time.

BandApp states that the funds will allow the company to expand its development team and keep up with requests from its user base.

The campaign is running for another 57 days and you can find all the details on http://www.bandapp.com/invest.


(Andrea Leonelli)

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