Seedrs has received a follow-on investment of £4m from Woodford Investment Management, valuing the company at £40m.
Woodford had backed the company with £6m in a Series A round two years ago, meaning the company had a post money valuation of approximately £30m.
The company said that additional funds will be used to deploy new product capabilities and boost sales and marketing. These are expected to include features to increase liquidity, further automation, machine learning and Artificial Intelligence.
Seedrs CEO Jeff Kelisky said, “Equally important to everyone at Seedrs was gaining agreement that we could open up an amount for the crowd.”
“We already have nearly 1000 crowd investors following raises in 2013 and 2015 and many investors were disappointed to miss out on our last round.”
This raise comes after it launched a secondary market for crowdfunded securities, with some investors receiving an up to 19x return on their investments.
Copyright FinTech Global 2017
