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Crowdfunding site Seedrs passes £1m milestone

The UK online platform for investing in start-ups, Seedrs, has just passed the £1 million mark in the funding that start-ups have raised since it launched in July last year.

It has surpassed the milestone in just nine months and £700,000 was raised in the last three months alone, reflecting the rapid acceleration in growth that is underway.

Whilst many of the 21 start-ups funded to date through Seedrs have been digital businesses, the start-up that took Seedrs past the £1 million mark was Mikes Fancy Cheese, which is a new venture starting in Northern Ireland that raised £80,000 for a 40 per cent share of the business.

Co-founder and chief executive of Seedrs, Jeff Lynn, said, “We are very excited about what a strong start we have had, and especially the extent to which the rate of investment in these promising young businesses has accelerated in recent months.

“Seedrs is providing hard evidence that there are an amazing number of entrepreneurs in the UK with great ideas and increasing numbers of people keen to invest in them, whether they are experienced angels looking to diversify their portfolio or first time start-up investors attracted by the uniquely suited service we offer them.”

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