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Seedrs crowd-raise GBP500,000 for international expansion

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(Credit: Seedrs) This photo contains the company logo of UK equity-based crowdfunding platform Seedrs.Seedrs
November 24
8:55 PM 2013

UK-based crowdfunding platform Seedrs is listing itself on its own site to crowd-raise GBP500,000 to fund its international expansion. This was according to a report published by TechCrunch.

Armchair investors who will participate in the round will get a total of 8.81% stake. This gives the equity-based company a pre-money valuation of GBP5.175 million, the report said.

Meanwhile, Seedrs also announced its plan to open up to European investors and startups outside of the UK. The firm is aiming to become the first "cross-border" equity crowdfunding platform, the report stated.

Seedrs co-founder and Chief Executive Officer Jeff Lynn said: "Our goal is to open startup investing as widely as we can, and a key part of that is about exposing investors to dealflow wherever it's located, and giving startups access to capital wherever it's located."

Since the firm was launched in July 2012, Seedrs has struck 49 deals. The company has raised a total of GBP2.5 million in funding, TechCrunch reported.

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