Seedrs opens up secondary market to allow trading of shares in the likes of Revolut, CommuterClub and Hummus Bros

Alys Key
Follow Alys
The two Jeffs: CEO Jeff Kelisky and founder Jeff Lynn (Source: Seedrs)

Seedrs has today opened up its secondary market to allow more freedom for sellers and traders, City A.M. can reveal.

Previously buyers could only use the secondary market to purchase shares in companies which they had already invested in through Seedrs.

From today, anyone will be able to buy shares in companies which have raised funds on the platform, including the likes of challenger bank Revolut and restaurant chain Hummus Bros.

Seedrs said it expected the second iteration of the secondary market to increase the trading activity on the platform hugely. Since June last year, share lots have been traded in 166 businesses, giving 850 investors an exit in the process.

In the newly widened secondary market, a total of 768 share lots will go live today in 150 different businesses.

Some of the other companies with share lots going live today are: CommuterClub, Landbay, Den, Tossed, Bux, Perkbox, Beeline, Football Index and Humble Grape.

But the restriction on auction pricing which came in as part of the initial secondary market launch will stay in place for now. Seedrs has said it is working on an auction pricing feature for this year.

Last year Seedrs boss Jeff Lynn stood back from day-to-day business, handing over to former COO Jeff Kelisky.

The company's most recent status update said it had seen its highest level of investment ever.

Related articles