By AltFi on 5th December 2013
Seedrs set up a campaign to raise £750,000 through their own platform for the purpose of expanding into Europe. That target was smashed as the project received £2.1m before closing.
The round attracted 850 investors, and supposedly breaks all existing records for most capital raised through an equity platform and for numbers of investors involved.
Jeff Lynn, co-founder of Seedrs, was understandably pleased: “This exciting new form of finance which allows new businesses to raise money from ordinary investors is here to stay and Seedrs securing £2 million using our own platform is a vote for equity crowdfunding done properly, with protections for investors and a straightforward process for companies”.
The move into Europe is motivated by a shared belief between founders Lynn and Carlos Silva that the UK experience has provided ample validation for the quality of the Seedrs model, as well as fostering their international reputation.
Lynn explained: “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”.
With CrowdCube set to branch out into Europe in early 2014, it seems the UK rivals are destined to vie for supremacy on the continent as well.