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Hire Space completes £500,000 crowdfunding raise to fuel expansion

Hire Space, the fast-growing online marketplace for booking venues, has successfully raised funding of £500,000 in less than 6 weeks after launching its crowdfunding campaign on 16 May.

London-based Hire Space set a funding target of £500,000 in return for 5.10% of equity in the company. It successfully raised the finance from over 200 venues, event professionals and private investors on Crowdcube’s platform, which allows companies to raise money from a large number of people in a short period.

The investment will contribute to cementing Hire Space’s position as the go-to platform for venue booking in the UK and will help to develop its technology offering.

Edward Poland, Hire Space co-founder, said: "We’re delighted to have hit our target with time to spare. The response from events professionals has been phenomenal and shows the faith that the UK events community has in Hire Space. We’ll use the funds raised to build a business we believe will revolutionise the events industry in the UK and beyond, and to continue to showcase the memorable venues so loved by businesses and the public.”

Hire Space was founded in 2012, and is backed by a group of investors including Karen Hanton MBE, founder of restaurant booking specialist (now part of OpenTable). It operates in London, Manchester, Birmingham and Liverpool.

In just four years, the website has grown to have thousands of customers, including high-profile clients Facebook, Google, Instagram, Red Bull and Accenture. Boasting over 100,000 visitors a month, Hire Space’s website lists more than 4,000 venues and adds an average of 50 venues a month.

Its current venues include the Hilton Hotel on London’s Park Lane, Museum of London, Hampton Court Palace and Arsenal Football Club.

The website’s crowdfunding campaign was publicly backed by prominent events industry figures, including Glenn Mainwaring of the Barbican Centre, who said “We love Hire Space at the Barbican. It’s quickly become an indispensable marketing channel and it’s great to see it go from strength to strength.”

Hire Space will celebrate hitting this milestone by launching their first exclusively managed venue, Salters’ Hall, with a glamorous launch party in the City on Wednesday evening.

There will be a period of overfunding until Friday 25th June, when investments will be closed to the public.

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