SyndicateRoom plans to raise up to £2.3mln of new funds, via its own crowdfunding platform, as it looks to further expand its operations.
The company said it is working to an aggressive growth strategy and with the support of the equity funding it aims to double its workforce, from 22 people currently, over the next six months.
The crowdfunding group a year ago raised £1.2mln in a similar funding.
As well as providing a funding outlet for private growth companies, the group also benefits from membership of the London Stock Exchange.
This opens up a significant opportunity, as it allows SyndicateRoom to provide a new crowdfunding funding route for LSE=listed companies. Such arrangements can mean that private investors are able to participate via SyndicateRoom in institutional placings and IPOs which would otherwise be off limits to them.
The cash injection will seed growth in this arm of the business.
This new Series A funding round will open for investors on the SyndicateRoom platform on Tuesday May 10, at 9:00am.
Goncalo de Vasconcelos, SyndicateRoom chief executive, said: “We now know that there is strong appetite for equity investment in the UK – for private companies and in for those in the public markets – and today’s report serves as evidence.
“We therefore expect significant growth ahead, and most important for me is addressing the high number of people in the UK who would like to become equity investors but do not know where to start.
“That is why we are raising funds for SyndicateRoom today, to address this large market of potential investors and support the next stage of start-ups and high growth businesses in the UK.”
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