Crowdfunding giant Seedrs is now valued at £50 million following a fundraising campaign conducted on its own platform.
Ther raise brought in £6 million from Seedrs’ own bank of investors, supplementing the £4 million that was recently raised from high-profile backer Neil Woodford.
Over 2000 people from 35 different countries committed funds to the campaign with the average investment standing at £3200. One backer invested £800,000 into the business.
“This round it 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,” said Jeff Kelisky, Seedrs’ chief executive.
The funds will be spent on launching new products, building new partnerships and increasing sales and marketing, as well as applying artificial intelligence and machine learning to scale crowdfunding campaigns.