On Monday, equity crowdfunding portal, SyndicateRoom, announced plans to open its Series A funding round for investors. The offer is set to open on the website this Tuesday (May 10th).
Just one year ago, SyndicateRoom successfully completed its previous funding round in just 33 hours and secured £1.2million. The website is planning to secure £2.3million during this upcoming round. It was also revealed that the proceeds will be used to expand the business further, including boosting the equity capital markets part of the business. The company seeks to double its employee numbers, currently at 22, over the next six months.
Goncalo de Vasconcelos, CEO and Co-Founder of SyndicateRoom stated:
“We now have evidence that there is strong appetite for equity investment in the UK – for private companies and in for those in the public markets – and today’s report serves as evidence. We therefore expect significant growth ahead, and most important for me is addressing the high number of people in the UK who would like to become equity investors but do not know where to start. That is why we are raising funds for SyndicateRoom today, to address this large market of potential investors and support the next stage of start-ups and high growth businesses in the UK.”
Earlier this year, SyndicateRoom joined the London Stock Exchange. The platform has emerged as a leading equity crowdfunding platform in the UK having raised over £45 million. de Vasconcelos previously commented:
“SyndicateRoom has already built a large member base of online crowdfunding investors, helping to create a new equity-owning class – the mass affluent. We are now seeking to democratise access to the public market, widening the reach of IPO discounts and putting the public back into IPO. SyndicateRoom’s move into the public equity market is another step in the evolution of the London Stock Exchange providing capital to growth companies, now with greater participation from individual investors.”
The launch of SyndicateRoom’s public equity capability means smaller investors will have the ability to participate in the IPO market and the opportunity to benefit from the same discounts as professionals for new equity issues. The site also received approved intermediary status for the £200 million IPO of HealthCare Royalty Trust Plc.