SquareBook, a digital auction platform for equity capital raising, is aiming to raise £300,000 on Seedrs.
According to the offering page, SquareBook is offering equity at a pre-money valuation of £24.9 million. The security offering is EIS qualified and approved for the Seedrs Secondary Market. The offering is also being issued under the Seedrs nominee structure.
As it stands today, SquareBook has raised £240,409 from 115 individual investors and the offering appears poised to hurdle the target amount.
Digitizing IPOs.
SquareBook is an FCA-regulated platform that aims to “de-risk the process” of raising capital with a digital auction platform that replaces more traditional book building by investment banks. SquareBook combines investor relations features alongside deal transaction services for multi round offerings. The offering page claims: “The result is a fairer, cheaper, more transparent way to raise capital, finally bringing IPOs up to date with the rest of the finance industry.”
According to the company’s website, SquareBook provides a service that allows issuers to “manage every part of your journey to the capital markets in one place, from private raises to sharing your offer to going public.” In a way, it competes with platforms like Seedrs. A key difference is that Seedrs engages both sophisticated and retail investors. SquareBook caters to professional clients, “eligible counterparties” and “retail certified high net worth investors.” (HNWI).
The company does add a caveat, while they do not allow retail to invest directly on SquareBook, it will work with an issuer to partner on a platform that provides retail access. Perhaps like Seedrs.
SquareBook is a subscription service that takes a small cut when a deal is consummated. The deal is open for the next few weeks.
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