Women-led crowdfunding campaigns in the UK are outperforming men according to a latest joint report from PwC and The Crowdfunding Centre. Women were 29% more successful at reaching their funding target than male-led campaigns reveal the report.
The report further states that while men typically seek higher funding targets, female-led projects achieve a greater average pledge amount: on an average, each individual backer contributes $78 to women and $69 to men (a difference of 13%).
In addition, 85% of campaigns in the UK raising over $1 million were male-led campaigns, 20% of male-led campaigns in the UK reach their finance target, compared with 26% of female-led campaigns.
The UK stands behind the US in terms of the largest volumes of campaigns, but women in the UK performed better than their US counterparts in reaching their funding targets (26% compared to 24% in the US). In both countries, 20% of male-led campaigns reached their targets.
The report highlights that 13 campaigns in the UK raised over $1 million but of these, only two (15%) were led by women. The biggest UK campaign in the UK was led by a man and raised over $5 million.
Suzi Woolfson, UK private business leader at PwC, commented, “The UK is one of the most successful countries for seed crowdfunding in the world, but currently significantly more men than women are using this channel. Becoming more engaged in crowdfunding and ambitious with finance raising goals offers a huge opportunity for female entrepreneurs. We hope the success of female crowdfunders highlighted in this report will inspire and give more women the confidence to explore crowdfunding.”
The report findings, which are based on two full years of seed crowdfunding data (2015-16) tracked by The Crowdfunding Centre, include the results of over 19,066 seed crowdfunding campaigns from some of the largest crowdfunding platforms in the UK.