Crypto start-up Circle snaps up SeedInvest
Goldman Sachs-backed cryptocurrency start-up Circle will acquire SeedInvest, an equity crowdfunding platform and broker-dealer.
The firm says this acquisition will accelerate its plans for a token marketplace that enables businesses and individuals to raise capital and interact with investors using open crypto rails and infrastructure.
Financial details have not been disclosed
This acquisition and planned new offerings are subject to the US Financial Industry Regulatory Authority (FINRA) approval. Financial details have not been disclosed.
Headquartered in New York City, SeedInvest has the “largest” equity crowdfunding platform in the US. To date, SeedInvest has helped hundreds of start-ups raise capital online and has a network of over 200,000 investors.
In addition, the company has generated triple-digit annual revenue growth while reaching profitability.
Circle says the SeedInvest product includes capabilities needed for executing regulated crowdfunding, such as start-up due diligence, securities issuance, investor accreditation, payments and securities custody.
With the merger and approval from regulators, these capabilities will be expanded to support crypto-denominated investments including using fiat stablecoins such as USDC, as well as issuing and offering tokenised securities.
SeedInvest will add 30 team members to Circle’s New York location.
