World News – UK – The crowdfunding platforms Seedrs and Crowdcube to merge

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Two of the UK’s most popular equity crowdfunding platforms – Seedrs and Crowdcube – have announced their intention to merge

The deal will be structured as an acquisition of Seedrs by Crowdcube, with existing Crowdcube shareholders owning 60% of the new company and existing Seedrs shareholders holding the remaining 40%

Seedrs CEO Jeff Kelisky to become CEO of the newly merged company, while Crowdcube CEO Darren Westlake will serve as executive chairman

« By joining forces, we will be able to harness the best of both companies while accelerating our shared mission to create the world’s largest private equity market, » said Jeff Lynn, executive chairman and co -founder of Kelisky and Seedrs, in a statement to shareholders

« Together, we will help finance thousands of ambitious, fast-growing companies and deliver exceptional returns to the investors who support them

“In turn, the merger will allow us to create a more robust company and we can achieve our common mission faster and more effectively when we are united”

The deal is subject to regulatory approval, including the Competition and Markets Authority (CMA) and the Financial Conduct Authority (FCA), as well as the shareholders of both companies Pending these approvals, the transaction should be finalized in late 2020 or early 2021

Seedrs and Crowdcube have proven to be popular with peer-to-peer lending platforms and other alternative lenders seeking funding Platforms such as Assetz Capital, CapitalRise, Abundance and EstateGuru have all raised funds through Seedrs in recent months, while Propifi, LandlordInvest and Ablrate are among the platforms that have benefited from Crowdcube funding rounds.

Seedrs said that until the merger is completed, « things are business as usual in both companies »

The platforms will continue to operate independently until the deal is concluded, and « probably for some time after that »

Seedrs, Crowdcube, Finance, Financial Technology, Private equity, Darren Westlake, Mergers and Acquisitions

World news – GB – Crowdcube and Seedrs crowdfunding platforms to merge



SOURCE: https://www.w24news.com/news/world-news-uk-the-crowdfunding-platforms-seedrs-and-crowdcube-to-merge/?remotepost=381498

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