UK crowdfunding platform Crowdcube has launched a new funding product for start-ups looking to raise seed funding.

The new product, called the Sprint Programme, is for new businesses looking to raise between £20,000 and £150,000.

Crowdcube said it would provide and “quicker” and more “cost-effective” route for start-ups looking to secure finance from Crowdcube’s 150,000-strong investor community.

Recent research by data company Beauhurst shows that seed funding deals are rising as a percentage of all finance deals raised through crowdfunding.

Between 2011 and 2014, it says, the percentage increased from just 5% to 30%.

Luke Lang, co-founder of Crowdcube said: “Since launching in 2011, our investor base has invested over £70 million funding over 205 businesses.

“One in every five businesses is a pure start-up, accounting for £19 million of the funded total.

“We want to continue building on that track record of success with a streamlined process to make raising finance even more accessible for budding entrepreneurs who want to turn their business idea into a reality.”

One of the first UK start-ups to participate in the Sprint Programme is The Pressery, which has created a range of almond milk drinks and supplies Selfridges and Daylesford Organics.

The start-ups raised £150,000 in two hours from 58 backers, including one who ploughed in £30,000.

Pressery’s co-founder Natali Stajcic said: “We are delighted with the response from Crowdcube members towards our pitch and can’t quite believe we reached our target in under two hours.

“The Sprint Programme appealed to us because we felt very ready for the next phase of our business and it pushed us to get there quickly.”

Other businesses raising money through Crowdcube include JustPark, with £3.7 million, easyProperty with £1.4 million and the River Cottage, which raised £1 million.

For more information about the programme click the link below.