The equity crowdfunder is claiming a sector-first with the launch of its new tool.
When the company raised £10m last October – in a round led by fund manager Neil Woodford and topped up by a crowdfunding campaign on its own platform – it promised to use the money to drive greater automation and the use of Artificial Intelligence (AI).
Seedrs now claims its new AutoInvest tool is a first within the UK equity crowdfunding sector. It will allow investors to automatically invest in companies through the platform, according to pre-defined criteria.
In the coming weeks, users will be given more customisation power, including the ability to select from criteria such as sector, geography or stage of business.
But for now, AutoInvest users will simply be given exposure to all deals that qualify for EIS tax relief and which have reached 70 per cent of their funding target, with a minimum of 100 investors pledged. Investors will also be able to set the amount they’d like to commit to each qualifying campaign.
The launch of the AutoInvest tool is reminiscent of Seedrs’ secondary market, which also began life on stabilisers when it launched last year, with more functionality added over time.
Joel Ippoliti, chief product officer at Seedrs, said in a statement: “Understanding what our customers want is at the core of what we do. There are investors who want it to be quicker and easier to build a diverse early stage investment portfolio, but still want to have oversight and control over their investments. Bringing customisation and transparency to an auto invest tool such as this is a real game changer; there’s nobody else doing anything quite like it.”
Join AltFi for its third annual Alternative Income Forum, exploring closed-ended funds (investment trusts) specialising in generating an income using alternative assets such as specialist finance, P2P lending, direct lending, asset leasing and more. Hear from the leading investors and fund managers in this rapidly growing market.