Electric Car Club Drives Off Towards Profitable Exit

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Written By Hossein Soltani

An electric car sharing club has driven off as the first crowdfunded equity project to make a successful exit from the start-up stage.

In 2011, the e-Car Club raised £100,000 on Crowdcube.

The pitch attracted 63 investors who ploughed between £1,500 and £15,000 into the company.

All have exited with an unpublicised ‘multiple return on their investment’ said a spokesman for the platform.

E-Car was sold to car hire company Europcar for an undisclosed sum.

The company works with councils, social groups and similar organisations to offer low-cost and eco-friendly transport.

“By joining with Europcar we cane access considerable investment and resources needed to accelerate our growth and reach more communities,” said club founder Christopher Morris

“We will have a social mission at the heart of our business: to improve mobility on a local level while reducing the cost and environmental impact of each journey taken.”

Positive contribution

Community news organisation Positive News has raised £263,000 from supporters for the UK’s first social investment crowdfund project of its kind.

The project on Crowdfunder was just one of dozens where small communities are joining to take control of local assets, like council buildings, pubs, sports facilities, shops and now newspapers.

Positive News is the first globally crowdfunded project to hit a funding target, with investors from 33 countries contributing to the pitch.

Dave Boyle, director of platform The Community Shares Company, said: “Positive News has proved community shares aren’t just local assets but also communities united by values but not by geography. Anyone with a cause and a crowd following can raise serious money if they pitch the deal right”

£500,000 goal to sign striker

Enterprising Bolton Wanderers fab Sam James has set up a crowdfunding page aiming to raise £500,000 to sign striker Adam La Fondre for the club.

It’s no secret in the football world that Bolton are short of money to sign new players, so James has set up an appeal on platform Go Fund Me.

Le Fondre, who spent last season on loan at Bolton, currently plays for Cardiff City but has been told he has no future at the club.

“It’s a nice gesture and shows that you are loved,” said Le Fondre.

So far, the appeal has raised £645 from 49 backers.