View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
December 4, 2013

Seedrs raises £2m on own site

Crowdfunding platform had originally sought £750,000.

By Joe Curtis

Seedrs has set a world record after raising £2m in investment via its own site.

The London startup has raised the most equity ever via an equity crowdfunding site, after originally calling for £750,000 for an overall 12.66% share last week.

After reaching that goal in just hours, Seedrs raised more than £2m in return for 30% equity, the cash coming from more than 850 investors.

Jeff Lynn, CEO and co-founder of Seedrs, said: "We were completely overwhelmed by the support our campaign received. We see this as a tremendous validation of equity crowdfunding, our model and our business, and we want to thank everyone who has invested for joining us on our journey.

"For most entrepreneurs, raising £2m is a long, painful process. Using our own platform we’ve shown how startups can harness their customers’ enthusiasm to raise money quickly and efficiently."

The startup plans to expand across Europe early 2014, setting up offices in key countries.

The company claims it has 27,000 registered members, who have collectively funded 51 deals to the tune of £4.5m since the startup’s launch nearly a year and a half ago.

Content from our partners
Unlocking growth through hybrid cloud: 5 key takeaways
How businesses can safeguard themselves on the cyber frontline
How hackers’ tactics are evolving in an increasingly complex landscape

Lynn added: "This exciting new form of finance which allows new businesses to raise money from ordinary investors is here to stay and Seedrs securing £2m using our own platform is a vote for equity crowdfunding done properly, with protections for investors and a straightforward process for companies."

Recent FCA proposals are set to come into force early next year to provide stricter regulations over who can and cannot invest on equity crowdfunding platforms, with the body seeing the method as a threat to inexperienced investors.

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how New Statesman Media Group may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.