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Equity crowdfunder Seedrs snaps up another £6m from crowd




By Ryan Weeks on 3rd October 2017


Crowd investors pile into Seedrs’ latest round after £4m investment from Woodford.

 

Seedrs has closed a £10m fundraise in which the crowd’s contribution outweighed that of acclaimed fund manager Neil Woodford. The round values Seedrs at £50m on a fully-diluted, post-money basis.

 

The crowdfunding round took just five days to close, and saw over 2,000 investors from across 35 countries participate. The average individual investment was £3,200.

 

Seedrs secured a £4m follow-on investment from the Woodford Patient Capital Trust in early September, funding an expansion of its automation, machine learning and AI capabilities. The company has also said in a press release that the funds will be used to launch new products which will “materially increase liquidity and return potential” for its investors.

 

Seedrs broke ground in May by launching a secondary market of sorts, which took the form of monthly liquidity events. But investors may only trade shares in companies that they're already invested in, and must do so at a price set by Seedrs

 

Woodford first invested in Seedrs as part of a £7.5m series A in 2015, which also featured venture capital firm Augmentum Capital. Seedrs opened pre-registration for the £6m crowd-round immediately after Woodford’s latest investment.

 

“It was highly important to us that we could open up as much as possible for our existing investor base,” said Jeff Kelisky (pictured), who took over from Jeff Lynn as chief executive officer of Seedrs in August.

 

Seedrs say that it has funded over 530 deals to date, with more than £260m invested via the platform. 

 

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