A shoe company set up by two of the Clark family raised £1.38 million from 1,192 investors on CrowdCube this week, but one of the founders said it could have been more if the crowdfunding platform hadn’t stopped a large number of investors from backing the campaign.
Galahad Clark told Business Insider that Vivo Barefoot — a company selling shoes that are designed to let your feet do their “natural thing” — missed out on thousands of pounds because Crowdcube wasn’t able to accept their payments.
“The biggest challenge we’ve had with Crowdcube is the internet has been a complete ball ache for international people,” said the member of the Clark family mid-way through the crowdfunding campaign.
“I reckon we’ve lost hundreds of people because of that. It’s a couple of hundred grand I reckon. We definitely lost a lot of American potential investors.
“Officially you have to invest with a debit card. A certain type of debit card. The banking system in Europe is not compatible for whatever reason with Crowdcube. I reckon we’ve lost hundreds of people because of that.”
Clark said he believes rival platform Seedrs is a “bit better” at accepting international payments.
Business Insider has contacted Crowdcube to find out more and is waiting to hear back.