A childcare group is hoping to raise £1 million through a bond issue on the Crowdcube crowdsourcing platform.

Bertram Nursery Group, based in Edinburgh, launched a bond last week that has so far attracted 18 investors who have raised £73,500, or 7% of the target sum. The bond offers an attractive 8% interest rate.

The company was founded in 2002 by Graeme Scott (left), a former chief executive of Stortext. It is now the eighth largest operator of day nurseries in the UK with 37 centres in Scotland and the north of England producing a £14 million turnover.

Bertram has grown through a number of takeovers and operates under brands such as Happitots and Bright Beginnings. The company sees potential for further consolidation in a fragmented market dominated by independent operators.

Last year it raised £3.5m in debt finance from private equity firm Rockpool Investments.