Enabling global crowdfunding from Seedrs
Established in 2012, Seedrs is Europe’s leading and largest equity-only crowdfunding platform, enabling businesses to raise money from their friends, families, networks and other investors through a simple online process. For investors, it’s an opportunity to put their money into businesses they believe in – from as little as £10 or €10 up to the full amount that the business is seeking on the platform. It is currently raising around £3-4 million per month.
We have a dedicated relationship manager, and I’ve enjoyed working with every member of the Currencycloud team that I’ve met. The main reason that I’d recommend them is their flexibility and agility in being able to adapt an existing product to new and different business requirements, and proactively engaging with our international growth plans.
Challenge
In 2013, Seedrs set its sights beyond the UK market – expanding its offering to European businesses and investors. Operating overseas meant there was demand for fundraising campaigns to be denominated in both pounds and euros.
For the platform to achieve its full potential across this new market, Seedrs wanted to offer investors a quick and simple solution for investing in businesses that were fundraising in other currencies.
If currency exchange had been managed through a bank, the only option would have been to force investors to invest their money in the denominated currency of their chosen campaign, and suffer the exchange rate. Alongside unfavourable rates for investors, the process would have required far too much manual effort to be practical for Seedrs.
An alternative option was needed and Currencycloud’s work with other leading Fintech brands meant that it stood out as the obvious solution.
Partnership
Currencycloud enabled Seedrs to offer immediate pan-European investing through the platform, providing:
Cross-currency investing
Seedrs highlights that “without Currencycloud, operating in Europe as we do now would not have been feasible for us”.
Exchange rate transparency
Our ability to tap into wholesale market rates allows Seedrs to display a real-time price for investors, providing a lean and transparent spread.
Swift set up
Easy integration of our API meant setting up was a streamlined, simple process and the helpful testing environment allowed Seedrs to ensure everything was lined up before going live.
Results
A thriving business planning further expansion
Since Seedrs opened its doors up to a European audience, 30% of new users come from outside of the UK, with a daily flow of transactions flowing between the two currencies. Seedrs is also discussing cross-currency solutions for its US operations with Currencycloud.
A smooth investor journey
Investors enjoy a streamlined experience, without ever needing to leave the Seedrs platform to exchange money. They are presented with a fair and accurate exchange rate, allowing them to focus on their key objective – gaining access to a world of dynamic business opportunities.
