Nesta releases these figures as its crowdfunding directory CrowdingIn celebrates its one year anniversary.
The number of crowdfunding sites in the UK has shot up since the start of 2011, with the majority having launched in the last three years. There are now 87 platforms active in the UK, 27 of which launched in 2013 - followed by a further seven since the beginning of 2014.
Liam Collins, Senior Researcher at Nesta, explains that a combination of modern technology and the financial crisis has made the crowdfunding market ripe.
He said:
"We’ve seen phenomenal growth in the number of platforms over the last five years, across every type from reward-based crowdfunding to peer-to-peer lending. Crowdfunding has proved immensely popular, both in the UK and globally, and these figures show that this trend is set to continue.”
