US-based private investment platform Republic has agreed to acquire European online private investment platform Seedrs for $100m (£75m).
The acquisition comes close on the close heels of Republic’s $150m Series B financing round, led by Valor Equity Partners.
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As part of the deal, Republic has committed additional capital to Seedrs to help it expand its reach across Europe and rollout new offerings.
According to the companies, the deal will result in the creation of the first global private investment marketplace with offerings across North America and Europe.
Republic and Seedrs have been collaborating with each other on various initiatives over the last four years. The two firms allow companies to co-raise on both platforms in a bid to increase the number of investors.
Republic founder and CEO Kendrick Nguyen said: “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. We look forward to working together to shape the future of the industry at this critical stage of growth and innovation.”
Seedrs CEO Jeff Kelisky said: “We share a similar culture, a common goal, and a commitment to the strategic opportunities that lie ahead. We have great admiration for the teams at Republic, and together we can accelerate our plans to create a powerful global private investment marketplace that will transform the finance ecosystem and the communities they serve.”
As part of the deal, Kelisky will join Republic’s leadership team. He will remain as CEO of Seedrs.
Seedrs’ leadership team will remain intact to further grow the UK business and support Republic’s European expansion plans.
Concurrent with the deal, Davidson Kempner Capital Management has purchased Seedrs shares from Schroder UK Public Private Trust, Augmentum Fintech and Omnis Income & Growth Fund. The firm currently own around 30% Seedrs.
