The funding round was led by the £800m Woodford Patient Capital Trust, which backs early-stage and early-growth firms as well as some blue chips, and VC investment company Augmentum Capital, which has an appetite for businesses that have the potential to dominate sectors.
The capital will be spent on marketing in the UK and Europe, and also platform enhancements. Elsewhere, following Seedrs’ 2014 takeover of Junction Investments in California, money will be spent on building out a US presence too. As part of the investment, which has provided Seedrs with a £30m valuation, Augmentum managing partner Tim Levene with join the company’s board of directors. He claimed the deal makes Augmentum “one of the UK’s leading fintech funds” as existing investment projects include Zopa, Borro, Interactive Investor and BullionVault. “We have been following the developments in equity crowdfunding for some time and believe Seedrs are the stand out company,” he said. “The market is still early in its development with many challenges to overcome. However, we believe Seedrs have the right blend of talent, vision, experience and rigour to ensure they become the leader in this exciting space.”
Additionally – in keeping with its roots – Seedrs is also hosting a £2.5m crowdfunding campaign of its own to provide shareholders and would-be investors the chance to get involved.
It’s been a busy couple of months for the company, which says it is growing at a rate of 15 per cent each month, with the hiring of Andy Murray and plans to focus on Welsh firms. Jeff Lynn, CEO and co-founder of Seedrs, added: “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.” By Zen Terrelonge
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.