Crowdfunding platform to expand after major investment

Equity crowdfunding platform Seedrs has announced a £10m fundraising round led by Woodford Patient Capital and Augmentum Capital...

Seedrs will use the capital raised to expand its market efforts in the UK and Europe.

Jeff Lynn, CEO and Co-Founder of Seedrs said: “We are absolutely thrilled to have Woodford and Augmentum leading this investment round in Seedrs.”

“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.”

Augmentum Capital has invested in a number of alternative finance businesses in the past including Borrow and Zopa.

Tim Levene, Managing Partner at Augmentum Capital, said: “We have been following the developments in equity crowdfunding for some time and believe Seedrs are the stand out company.”

“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.”

The fundraising round is subject to consent by the Financial Conduct Authority.

Seedrs will also hold a £2.5m crowdfunding campaign to give current shareholders and new investors the chance to participate.