Republic snaps up UK's Seedrs following blocked merger
December 1, 2021, 10:16AM EST
1 min read
Republic has acquired UK crowdfunding platform Seedrs in a bid to create a cross-Atlantic investment platform, according to an announcement.
The deal valued Seedrs at approximately $100 million and follows the US investment platform's recent $150 million Series B.
The news comes after the Competition & Markets Authority, the UK competition watchdog, forced Seedrs to terminate its planned merger with local rival Crowdcube earlier this year.
"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," says Kendrick Nguyen, Republic founder and CEO. "We anticipate further developing the strengths of both companies from retail, secondaries, crypto, and communities to create a clear industry leader."