Fintech boom helps Seedrs to ‘record’ £293m crowdfunding in 2020

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Altfi.com | Aisling Finn | Jan 11, 2021

seedrs jeff lynn - Fintech boom helps Seedrs to ‘record’ £293m crowdfunding in 2020 Fintechs flourished on Seedrs, maintaining the title of the most invested-in sector, with £78m invested in fintechs through the platform.

Crowdfunding platform Seedrs saw investments through its platform top £293m in 2020, hitting a milestone of £1bn invested to date on Christmas Day.

Fintech remained the most invested-in sector, scooping £78m collectively, with other areas seeing huge increases in investment, for instance, healthcare firms saw a 292 per cent jump in investment in 2020.

Seedrs says over 70 campaigns raised over £1m on the platform, with big fintech names such as money management app Snoop, which raised £10mhere have been nearly 14,000 investor exits on its secondary market to the tune of £5m, Seedrs says.

Jeff Lynn, executive chairman and co-founder of Seedrs, said: “Given the huge challenges that 2020 posed for all businesses, it is a source of great pride for the Seedrs team that have come to the end of the year having delivered meaningful growth across all key metrics.”

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The record figures come as Seedrs saw losses widen, reporting a loss of £4.7m in the year ending December 2019 and admitting that Covid-19 has caused a “material uncertainty” which “may cast significant doubt on the group’s ability to continue as a going concern”.

Seedrs’ losses were published no more than one day after its merger with fellow crowdfunding platform Crowdcube was announced.

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