Seedrs started its secondary market one year ago and has provided an update on progress.
The equity crowdfunding platform said that the market is opening up to new investors, and there’s been record levels of trading and investor exits.
There have been 2,290 investor exits in 248 different companies on the Secondary Market
The latest trading cycle in June saw 601 share lots traded, a 918% increase from the markets first trading cycle in June 2017. Trading activity has been increasing month by month, with the value of all trades now just short of £1m.
Seedrs Secondary Market launched in beta mode with three key restrictions in place: set pricing; a cap at £1000; and, only existing shareholders could buy, or sell. Eight months after launch, Seedrs lifted one of these restrictions by opening up the secondary market to all investors, whether previous shareholders, or not. This saw a 300% increase in trading activity.
Seedrs is now looking into auction pricing, removing the £1000 cap and incorporating new technologies in its development to improve its efficiency and speed of execution.
Thomas Davies, Chief Investment Officer at Seedrs, said: “We’re delighted with the success of the Seedrs Secondary Market so far. Seedrs always strives to be at the very forefront of technology, leading the way in the sector with innovative products and services. We have some exciting plans for the evolution of our secondary market and feel we’re only just getting started.
“We’ve seen increasing levels of trading every month, demonstrating that the demand for a fully functioning secondary market absolutely exists. Our portfolio of high-growth exciting businesses such as Revolut, Airsorted and Perkbox is sought after and people who missed out on their initial Seedrs funding round are using our secondary market to get in.”
