UK equity crowdfunding platform provider, Seedrs, has announced that it is raising £10 million in a Series A funding round. Like other , Seedrs will be using its own platform to assist in raising capital.
Of the planned £10 million, £7.5 million is through institutional investors in a round led by Woodford Patient Capital Trust (WPCT) and Augmentum Capital. According to Seedrs, the funding will be valuing its firm at £30 million. In addition to the institutional investors, Seedrs is opening up the round to its platform’s customers, with £2.5 million being raised on a campaign on the platform.
According to Seedrs, the funds will be used to expand its marketing in the US and UK. As part of its marketing efforts, the firm added UK tennis star to its Advisory Board in June. In addition, Seedrs stated that funds will be allocated towards its US expansion. The timing coincides with of the JOBS Act going into effect in June, which has enabled equity crowdfunding from retail investors in the US.
Jeff Lynn, CEO and Co-Founder of Seedrs, stated regarding the funding, “We are absolutely thrilled to have Woodford and Augmentum leading this investment round in Seedrs. The capital we are raising will allow us to deliver our next stage of growth in the UK, Europe and the United States. As importantly, though, is the signal this investment sends to the market. The greatest fund manager of our time and the greatest financial family in history have looked at the equity crowdfunding space, decided that there is a huge opportunity to be won, and decided that Seedrs is the one that’s going to win it. We are honoured to have both investors on board, we look forward to working with them as we continue to grow.”
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