Crowdfunding site Seedrs lands £10m in funding
2,000 shareholders contribute £6m in five day campaign alongside £4m injection from Woodford Capital Management
Seedrs, the Startups 100-featured crowdfunding site, has closed a £6m crowdfunding round through its own platform, alongside £4m in funding from Woodford Investment Management last month, bringing the total raised to £10m.
The five-day campaign saw 2,000 existing shareholders from 35 countries invest (most from the UK, Germany, Portugal, France and Italy). The average amount was £3,200 and the largest individual investment was £800,000.
Seedrs advisory board member Andy Murray – who has previously invested in a number of start-ups through the platform – was amongst the investors in this crowdfunding campaign.
Founded in 2009 by Young Guns Jeff Lynn and Carlos Silva, Seedrs allows investors to invest as little or as much as they like in a business. To date, it has funded over 530 deals amounting to £260m invested through the platform.
The last 12 months has seen Seedrs significantly ramp up activity with the launch of a secondary market in a bid to boost liquidity and becoming the sole equity crowdfunding platform appointed to the Capital Connections Programme.
Meanwhile, CEO Lynn stepped down from his position to become executive chairman, making way for former COO Jeff Kelisky to take the reins.
Kelisky commented: “This round is yet more evidence of the market’s conviction that Seedrs is on the right path to delivering shareholder value by opening venture capital opportunities to retail investors for fast growth companies – and without Seedrs having pioneered regulated equity investment, these opportunities would have remained closed to them.”
Murray added: “It is with great pride that I have made this investment into Seedrs latest funding round. As an active investor into early stage businesses through the Seedrs platform, it was important for me to take up my pre-emption rights.
“I have made a substantial follow on investment into this round to show my support for all that Seedrs has achieved since the last raise in 2015. The team has done some great work in supporting European start-ups and I’m looking forward to seeing how the business will continue to grow with this additional investment.”