A UK outdoor brand recently raised £750,000 in eight minutes when it invited customers to become shareholders of the business via a crowdfunding platform.

Alpkit, an outdoor and biking brand based in Nottingham, England, used the platform CrowdCube to let customers buy shares starting at £10. The company hit its target in those first eight minutes, then reached its cap of  £1.5 million in less than an hour.

According to East Midlands Business Link, which reported the story, benefits for the 1380 new shareholders will depend on the level of investment, but might include discounts, products and entry to special events. The money will go toward two stores planned for 2021, international growth, and sustainability efforts,

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