Secondary Market Opened Up by Seedrs

Photo via Eu-Startups

Today, Seedrs has opened up its secondary market to enable more freedom for traders and sellers.

Previously, buyers could only make use of the secondary market to purchase shares in the companies which the buyers have already invested in through Seedrs.

However, from today, anyone will now be able to purchase shares in the companies which have allocated funds on the platform, including the likes of Hummus Bros, a restaurant chain, and Revolut, a challenger bank.

Seedrs said that it expected the second iteration of the secondary market to hugely improve the trading activity on the platform. Since June of last year, share lots have been traded in around 166 businesses, offering 850 investors an exit in the process.

In the recently widened secondary market, a total of 768 share lots are set to go live today in 150 various firms.

The other companies with share lots that are going live today include Landbay, CommuterClub, Tossed, Den, Perkbox, Bux, Football Index, Humble Grape, and Beeline.

However, the restriction on auction pricing which came in as a part of the launch of the initial secondary market will continue to stay in place for now. Seedrs has said that it is currently working on an auction pricing feature for this year.

In 2017, Jeff Lynn, the Seedrs boss, stood back from day-to-day business, handing over to Jeff Kelisky, the former COO.

The most recent status update of the company said that it had seen its highest level of investment ever.