Equity crowdfunding portal Seedrs is planning to raise £10M, which will be used to expand its operations in Europe, and to launch its activities in the US. The Series A round is being led by Woodford Patient Capital Trust (WPCT) and Augmentum Capital. The two companies are contributing a combined total of £7.5M while the remaining £2.5M will be raised from existing shareholders of Seedrs and other individual investors through a crowdfunding campaign that will be run on the portal.
WPCT is an £800M investment trust that was launched by Wood Investment Management earlier this year to invest mainly in early-stage and early-growth companies. Augmentum Capital is a venture capital company that was established in 2009 to support businesses and entrepreneurs with the potential of becoming leaders in their space.
…to become the leader in the equity crowdfunding industry by giving investors a chance to invest in startups as shareholders.
The Series A funding round values Seedrs at £30M. The company will use the raised capital to significantly expand its marketing efforts and development activities in Europe and in the UK. It will also use the money to launch its business activities in the US, following the property acquisition of Junction Investments, Inc. in California, late last year.
Seedrs is dedicated to becoming the leader in the equity crowdfunding industry by giving investors a chance to invest in startups as shareholders. The company recently signed into a strategic partnership with distinguished tennis player Andy Murray, and is strategically positioning itself to capitalize on the anticipated growth of the alternative finance market (which is expected to move from £1.7B raised last year to £4.4B this year). Startups in the UK are increasingly looking for more efficient methods of raising capital. Equity crowdfunding stands as a preferred option for many.
WPCT and Augmentum Capital have expressed confidence in Seedrs, and they believe that they have the right combination of vision, exceptionality, talent, rigor and experience to become leaders in the equity crowdfunding space. Following the funding round, Mr. Tim Levene, Augmentum Capital’s managing partner, will be joining the Board of Directors at Seedrs.
Jeff Lynn, CEO & cofounder of Seedrs, said that they are confident that with the kind of financial family and management team they have, they will continue to grow their business and get successfully established overseas as planned.
Photo credits: learn.seedrs.com