Dutch start-ups and scale-ups raised nearly €428m in capital and equity crowdfunding investments this year, down €70m on 2014, according to research by website Startupjuncture.

Although the total amount of money is lower than last year, the number of investments has almost doubled to 150, the website says.

In 2014, Adyen, Takeaway and Elastic accounted for almost half the money raised. This year, the investment has been spread more thinly over more companies.

Online auction website Catawiki raised the most cash this year with investments of €75m. Payment system Ayden was in second place with estimated investments of €50m. 3D print group Shapeways, internet security group HackerOne and file transfer group WeTransfer completed the top five.

Startupjuncture uses a wide definition of start-up and admits four of the top five could be called scale-ups because they were all founded more than five years ago. The list does not include pre-sales crowdfunding, grants and subsidies.

HackerOne is the youngest company in the top five. It was founded in 2012 by Dutch nationals but is based in California.

The full list