Scottish businesses raised £27 million from crowdfunding in the year to September 2015, according to The Scottish Crowdfunding Report 2016.
There were 1,263 successful initiatives with the largest campaign raising £1.2 million for the accounting software company FreeAgent.
The report was commissioned by Glasgow Chamber of Commerce in partnership with Harper Macleod, LendingCrowd and Santander and produced by crowdfunding consultancy twintangibles.
The £27 million does not include the high profile crowdfunding achievements of craft beer firm BrewDog, which recently raised £19 million through its latest “Equity for Punks” scheme.
None of BrewDog’s crowdfunding campaigns closed within the study period.
Crowdfunding in Scotland now accounts for 4% of the overall UK total.
The report highlighted firms who have run successfully crowdfunding campaigns in Scotland including Brewgooder, SortmyPC and Find a Player.
It is estimated that crowdfunding raised $34 billion globally in 2015.
The report provides an insight into how Scotland’s attitude to crowdfunding has progressed after a slow start.