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Star-backed UK crowdfunding platform to launch in US
U.S. investors will soon have another option for easily buying small amounts of stocks.
Seedrs, a U.K. crowdfunding platform, will launch in the U.S. in the coming weeks, with a full, official launch due in early 2016, reports Business Insider. The online platform has star power: It's backed by fund manager Neil Woodford and venture capital firm Lord Rothschild and boasts tennis star Andy Murray as an advisor. Seedrs enables individuals to buy stocks in startups for as little as 10 pounds. Startups can join the platform with a funding goal, and agree to sell a certain number of shares to meet that.
Seedsr has been eager to break into the U.S., and bought a similar California-based platform called Junction Investments in 2014. Before Friday, Seedrs was prohibited from a U.S. expansion by the JOBS Act. The act previously prevented non-accredited investors, or those with a net worth of less than $1 million or an income of less than $200,000 for the last two years, from investing in equity crowdfunding platforms.