This year's Women's Tour, scheduled to be held in Britain in June, has been called off after a lack of funding made it "impossible to deliver", organisers said on Friday.

Earlier this month, organisers made a plea for funding for the event, saying the shortfall was approximately 500,000 pounds ($618,700).

They also launched a crowdfunding campaign, which had raised just over 18,000 pounds as of Friday. "Owing to a combination of increased running costs ... and a reduced level of commercial support, it has proved impossible to deliver the event that was proposed for June," organisers said in a statement.

"This outcome is incredibly disappointing for the stakeholders set to host this year's race, who have shown great support and understanding throughout this process. We will continue to work with them to explore opportunities for hosting world-class cycling events in the near future.

"Organisers are already working on plans for next year's edition, which will mark the 10th anniversary of the first Women's Tour."

Dutch great Marianne Vos and Britain's Lizzie Deignan are among previous winners of the Women's Tour, which debuted in 2014.