Crowdfunding platform Seedrs has acquired California-based Junction Investments ahead of a US launch. Financial terms of the deal were not disclosed.
Founded in 2012 by Adam Kaufman and Brian Goldsmith, Junction initially focused on raising money for entertainment assets, including Hollywood films, before branching out.
In a blog post explaining the acquisition, Seedrs says that while its aim is to build a global platform, national and regional regulations means that this has to be achieved in stages and through acquisitions.
Junction proved attractive because it is a registered broker-dealer and an investment adviser, and also has experience in a market that, unlike the UK, currently only lets accredited investors take part in equity crowdfunding.
Having decided that they could benefit from Seedrs reach and resources, Kaufman and Goldsmith have sold up but are staying on as co-heads of Seedrs America, which will launch in the next few months.