More than £1million has been invested in start-ups through online equity crowdfunding platform Seedrs in just nine months.
Seedrs was set up last year as a platform for entrepreneurs to raise funds from small investors in return for equity in their business.
As bank funding to smaller firms dries up – figures show it fell £4.8billion in the first quarter of this year – demand for alternative sources of finance has soared, with £700,000 invested via Seedrs in the past three months alone.
So far 21 start-ups have received up to a maximum of £150,000 of seed funding through the site generally under the Governments SEIS investment scheme which offers generous tax breaks for investors.
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