The Financial Times reports that London is emerging as the world leader for crowdfunding with more campaigns being run out of the UK capital than cities in the US - where the method of financing new ventures was born.
The claim is being made by the Crowdfunding Centre, a research group, which has for the first time mapped the locations of live campaigns run by the 10 largest crowdfunding platforms in the world. The US remains the home of the world's largest crowdfunding websites. Indiegogo, for instance, operates in 224 countries but only 30 per cent of the crowdfunding campaigns it enables are started outside the US.
The Crowdfunding Centre's data confirms the US still dominates the market in terms of total amount of money raised, totalling almost £135 milion in the second quarter of 2014. One area of crowdfunding where the UK has a clear lead is people taking an equity stake in ventures.
This is thanks in part to the UK regulator, the Financial Conduct Authority (FCA), putting in place rules to govern the market much earlier than its US counterpart.