Fidor adds a touch of Nutmeg to banking with Seedrs
Seedrs will be the sole equity finance provider in a new partnership with challenger bank Fidor, as they look to offer alternative investment including equity crowdfunding.
This partnership will give Fidor’s UK commercial customers a suite of investment products through FinanceBay, Fidor’s fintech marketplace, including access to various firms in the UK.
Among the companies Seedrs has given investors access to include FreeAgent, which provides online accounting and money management software for small businesses and freelancers. It underwent an IPO on AIM (the London Stock Exchange’s international market for “smaller growing companies”) in December last year.
Online wealth manager Nutmeg will be joining Seedrs on Fidor’s marketplace at some vague point in time, and others will be announced in the coming months as the scheme rolls out and is expected to include a number of debt based peer-to-peer platforms.
Katharina Rausch, head of FinanceBay, Fidor’s fintech marketplace: “Fidor has long welcomed affluent and financially curious customers to our digital bank and based on their investment appetites we have built an exciting suite of investment products made accessible to customers via a handful of carefully curated fintech partners.”
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Seedrs says it has funded 500 deals to date and has had over £220 million invested on the platform. All investments made through Seedrs offer voting shares to investors and use “professional-grade” subscription agreements. According to the company, this ensures that investors get the same level of protection as angel investors and venture capitalists. It is authorised and regulated by the UK Financial Conduct Authority.