Cambridge-based SyndicateRoom raised its £1.2 million growth funding on its own site in just 33 hours.
Despite limiting investment to £5k per individual backer, SyndicateRoom saw the cash rack up at the rate of almost £36.4k every hour.
Founder and CEO Goncalo de Vasconcelos said the round was more than twice oversubscribed even before the launch. Overfunding beyond the £1.2m was not allowed as SyndicateRoom’s model is proving so successful that the business does not need more at this stage.
The round was led by super-angel Jonathan Milner who negotiated the valuation, agreed all the terms of the deal and invested over £250,000 of his own money.
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