European crowdfunding platform plans US launch

Outsourcing

European crowdfunding platform Seedrs plans to launch in America and will commence a beta test of its platform in the US within weeks.

The announcement follows Friday’s vote by the Securities and Exchange Commission (SEC) to implement Title III of the Jumpstart our Business start-ups (JOBS) Act.

It also comes after the acquisition by Seedrs, which focuses on equity investments, of California-based crowdfunding platform Junction Investments late last year in preparation for its push into the US. Since then it has been “working tirelessly in developing the right approach to commence operations in the US.”

Seedrs said that the beta test will offer US accredited investors the opportunity to invest in selected campaigns listed on the platform, with an official launch expected in early 2016.

It added that it has actively supported the JOBS Act equity crowdfunding regime, with its chief executive (CEO), Jeff Lynn, providing expert testimony to subcommittees of the US House Oversight & Government Reform Committee in September 2011 and the US House Financial Services Committee in May 2014.

Seedrs “believes Friday’s SEC vote … represents a significant step forward for early-stage and growth-focused businesses that wish to use equity crowdfunding as a platform to raise capital for their businesses.”

“I have had the privilege of being involved in the law making process for US crowdfunding ever since the JOBS Act was introduced in 2011, and I am very pleased to see that the SEC has finally adopted rules implementing Title III,” commented Lynn.

“We believe this heralds the emergence of equity crowdfunding as a vibrant form of finance in the US – just as it has become in the UK and Europe – and Seedrs is perfectly positioned to take advantage of the sector’s growth.”

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