CROWDCUBE, the alternative investment platform, has announced it will open its first office in Scotland tomorrow.

The company will launch its premises, which will be headed by Craig McKenna, on Edinburgh's Silicon Walk.

It said it has made the move to support existing clients, and to service what it terms as a strong pipeline of prospective start-ups and businesses in growth.

NewGalexy, the legal outsourcing business, became the first Scottish company to raise finance through Crowdcube last year, attracting £220,000 after initially targeting £100,000.

Lanarkshire-based Plan Bee, which specialises in establishing and maintaining beehives as a form of corporate social responsibility, raised more than £100,000 from 177 investors on the platform earlier this year.

Crowdcube said its decision to move north of the Border comes amid strong growth in the number of new businesses starting up in Scotland, which it said is leading to growing demand for alternative financing and crowdfunding in particular.

Founder and chief executive Darren Westlake said: "Scotland has a very strong entrepreneurial and investment culture, but there has been no crowdfunding presence in the region until now.

"Scottish companies are no different to any other start-up in looking for ways to finance their business, and like any other business they have found it increasingly difficult to raise money through traditional routes like banks during recent tough economic times.

"Investors are also a key target for us. But it's interesting to see that although the passion for investment is there … crowdfunding is not an obvious choice at the moment.

"We need to change this and make crowdfunding a serious alternative."