Woodford-backed crowdfunding startup Seedrs is now valued at £50m

Crowdfunding platform Seedrs has raised another £6m in fresh investment - via crowdfunding on its own site.

It brings the total new cash raised to £10m after a previously announced £4m from existing high profile backer Neil Woodford last month.

More than 2,000 people from 35 countries invested and the startup said the average investment was £3,200 while the single largest amount was £800,0000.

The fresh injection of cash values Seedrs at £50m, £10m more than just a month ago.

“This round it is yet more evidence of the market’s conviction that Seedrs is on the right path to delivering shareholder value by opening venture capital opportunities to retail investors for fast growth companies, and without Seedrs having pioneered regulated equity investment, these opportunities would have remained closed to them," said Jeff Kelisky, the newly installed chief executive who took over from co-founder Jeff Lynn over the summer.

Long-time backer and tennis star Andy Murray has also invested further, describing it as a "substantial" amount.

"The team has done some great work in supporting European startups and I’m looking forward to seeing how the business will continue to grow with this additional investment," he said.

The fresh cash will go on launching new products, building new partnerships and increasing sales and marketing, as well as applying artificial intelligence and machine learning to scale crowdfunding campaigns.

Earlier this year it launched a secondary share trading market platform. More than 500 deals have been raised through Seedrs to date, raising a combined $260m.

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