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Republic to buy Seedrs for $100m

Republic to buy Seedrs for $100m

In the wake of its blocked merger with Crowdcube, UK crowdfunding platform Seedrs has agreed a deal to be acquired by American outfit Republic for around $100 million.

Seedrs agreed a merger with rival Crowdcube last year but the deal was blocked by the UK's Competition and Markets Authority on the grounds that it would reduce competition and innovation.

Now the firm has accepted a takeover from Republic, a private investment platform that lets people invest in private market equity, debt and crypto offerings.

Republic - flush from a recent $150 million Series B funding round - says that the acquisition will create the first global private investment marketplace with offerings across North America and Europe.

Seedrs was the first regulated securities crowdfunding platform in the world and has seen nearly £1.5 billion invested on its platform. It has also introduced a secondary marketplace and has hosted some of the industry's most significant success stories, including Revolut.

Jeff Kelisky will continue as Seedrs CEO on completion of the deal, which is subject to approval from the FCA and Seedrs shareholders.

Kendrick Nguyen, CEO, Republic, says: "We knew international expansion was necessary to achieve cross-bordered participation. In working with Seedrs, we have admired their technological capabilities, the strength of their team and their strong presence in the UK and soon Europe.

"We anticipate further developing the strengths of both companies from retail, secondaries, crypto, and communities to create a clear industry leader."

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