Seedrs has agreed terms for £4.5m funding round

UK-based crowdfunding platform Seedrs has confirmed that it has agreed to terms of a £4.5m funding round.

While few details are available at this stage, Seedrs has publicly confirmed that two of the enterprise’s major institutional shareholders have committed to the round and that the investment will be through convertible equity. Other existing investors are also free to join the round. It added that a “substantially larger priced round” will follow next year, according to Crowdfund Insider.

Seedrs also stated that the crowdfunding platform is looking to achieve overall profitability and that it is expecting to have the financial muscles to expand its product range and expand across Europe.

Earlier this week, FinTech Global reported that Seedrs had joined Onfido’s Financial Conduct sandbox. Onfido is trying to make it easier for customers to access services without having to jump through the same identity-verification hoops every time. This endeavour is now one that Seedrs is also taking part in.

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