Investor-led equity crowdfunding platform SyndicateRoom has closed a £3.1m Series A funding round.
The round, led by angel investor and Abcam founder Jonathan Milner, also drew support from Unicorn AIM VCT which invested £1m.
According to a statement, the newly procured funds will be used to help the company expand across other equity capital markets and to hire more staff.
Goncalo de Vasconcelos, CEO and co-founder of SyndicateRoom said: “We are building the most successful and efficient incremental distribution platform for companies to raise equity investment at all stages of their equity journey, from idea to IPO.
“To have such strong demand from both retail and institutional investors is the strongest vote of confidence we could have regarding our expansion plans within crowdfunding and equity capital markets. I am hugely excited about the times ahead of SyndicateRoom and its potential to become a billion dollar business,” he added.
The funding round comes after SyndicateRoom gained intermediary status with the London Stock Exchange, enabling its investors to participate in initial public offerings (IPOs), in March.
Lead investor and Abcam co-founder, Jonathan Milner, said: “SyndicateRoom’s growth since it launched in 2013 has been absolutely phenomenal. A number of ingredients have combined to achieve this – from superb leadership and a brilliant company culture, to investor demand and a desire for growth from UK companies.
“The time is now for smart equity crowdfunding and SyndicateRoom is in a prime position to help drive further success across the industry,” Milner concluded.