Republic, a fintech startup based in New York, has announced the acquisition of crowdfunding company Seedrs in a push to expand to the UK and Europe.
The deal, which values Seedrs at about $100 million, will allow Republic to become the first global private investment platform to offer its services in North America and Europe at a time when the democratization of investing has become more important than ever. The acquisition comes less than 2 months after the closing of a $150 million Series B funding round led by Valor Equity Partners. Jeff Kelisky, CEO of Seedrs, referred to the acquisition by stating:
“Seedrs’ ambition has always been to build a global private equity marketplace. This transaction is a natural development of our partnership with the Republic to achieve and go beyond that ambition. 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.”
Republic was founded in 2016 with the mission to allow anyone to invest in startups, gaming, real estate, and crypto by facilitating the process via a curated list of private investing opportunities. The startup has established partnerships with organizations like AngelList, Binance, Algorand, Techstars, and more, which has resulted in over $700 million being deployed in investments. Kendrick Nguyen, Republic’s founder & CEO, said about how Seedr’s acquisition will boost this success:
“Republic launched with the mission to make private investments accessible to all. 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.”
While the transaction still needs to be approved by the Financial Conduct Authority (FCA) and Seedr shareholders, it is expected to be completed early in 2020. Once the acquisition is completed, Republic will be able to expand its presence to Europe to deliver its innovative features and products, fcreating new financial opportunities for millions of people in the region