Neil Woodford and Andy Murray-backed startup Seedrs raises another £6m via crowdfunding

Lynsey Barber
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The appetite for crowdfunding is growing among investors (Source: Getty)

Crowdfunding platform Seedrs has raised another £6m in investment - via crowdfunding on its own site.

It brings the total new cash raised to £10m after a previously announced £4m from existing backer Neil Woodford last month.

More than 2,000 people from 35 countries invested and the company said the average investment was £3,200, while the single largest amount was £800,000.

Read more: Neil Woodford invests another £4m into crowdfunding platform Seedrs

The fresh injection of cash values Seedrs at £50m, £10m more than a month ago.

“This round is yet more evidence of the market’s conviction that Seedrs is on the right path to delivering shareholder value by opening venture capital opportunities to retail investors for fast growth companies," said Jeff Kelisky, the newly installed chief executive who took over from co-founder Jeff Lynn over the summer.

"Without Seedrs having pioneered regulated equity investment, these opportunities would have remained closed to them."

Long-time backer and tennis star Andy Murray has also invested further, describing it as a "substantial" amount.

"The team has done some great work in supporting European startups and I’m looking forward to seeing how the business will continue to grow with this additional investment," he said.

Read more: Seedrs boss Jeff Lynn steps back from day-to-day business

Seedrs said it will spend the extra cash on launching new products, building new partnerships and increasing sales and marketing, as well as applying artificial intelligence and machine learning to scale crowdfunding campaigns.

Earlier this year it launched a secondary share trading market platform. More than 500 deals have been raised through Seedrs to date, raising a combined $260m.

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