As the U.S.A. finally catches up in the equity crowdfunding movement with the passing of the JOBS Act, London has embraced the idea for several years. Seedrs, the UK equity-based crowdfunding platform launched in July 2012, has seen 49 deals totaling £2.5 million in funding. Companies have a 90-day window to raise a target amount of cash; the investment goes ahead if they succeed, but the money is returned if they don’t a la Kickstarter. Seedrs allows investors to put as little as £10 in at a time into as many investments as they like. Previously funded companies include Happy Days the Musical, Satago and NearDesk.
In a meta-move for the London-based startup, Seedrs listed itself on its site in a bid to crowd-raise £500,000 for international expansion. By the end of the day, Seedrs had raised over £1,000,000. Looks like we’ll be seeing more of Seedrs across Europe soon!