Crowdcube has acquired Supdate, a business reporting software company, in a strategic move to enhance its service offering for entrepreneurs and investors.
This acquisition is part of Crowdcube’s broader strategy to develop an ecosystem of services that cater to the needs of entrepreneurs and investors engaged with its equity crowdfunding platform. The financial terms of the acquisition remain undisclosed. Supdate offers a platform that allows businesses to create, share, and monitor company news and performance updates with their shareholders.
Founded by Duane Jackson, the entrepreneur behind the cloud-based bookkeeping software developer, KashFlow, Supdate has been employed by hundreds of businesses since its inception in 2015. Darren Westlake, co-founder and CEO of Crowdcube, stated, “Crowdcube has funded over 600 companies, averaging 350 investors each, and so ensuring businesses can easily connect with their shareholders to keep them updated is really valuable to our investor community.” He further remarked, “We’ve been fans of Supdate for a long time, and when we recently began talking with Duane in more detail, it quickly became obvious that Supdate would be a natural fit for Crowdcube and our growing Funded Club.”
Jackson added, “Collaborating with a crowdfunding platform is an obvious route to market for Supdate, which is why I approached the best in town – Crowdcube.” Discussions on cooperation quickly led to the acquisition by Crowdcube, given their focus on connecting companies with stakeholders. Jackson also mentioned, “Entrepreneurs are in safe hands with the team at Crowdcube and I’m pleased that Supdate will now be made available to more people through the work they do.” Crowdcube plans to extend access to Supdate to its over 600 funded businesses, in addition to providing ongoing access to Supdate’s existing customer base.
This acquisition signifies a strategic expansion for Crowdcube, as it integrates Supdate’s capabilities to bolster connectivity between businesses and their shareholders.