The social justice element

During the latest edition of Business Zone’s ‘Start / Scale / Disrupt’ podcast series, Seedrs’ Co-Founder and CEO Jeff Lynn discussed the role of crowdfunding and what the future holds.

He said:

We are trying to go from a world in which finance was allocated based on clubby, old boy-types of networks, towards a meritocratic environment, where

people are raising money based on the combination of their talent and hustle.

That leads to massive increases in diversity across class, across gender, across economic status. We see entrepreneurs and investors from all walks of life.

He then added:

That’s a very good thing. There’s the social justice element, but there’s also a hard-nosed business reason: if we’re just funding businesses that are founded by the proverbial rich kids who have uncles that can write them cheques, that’s not going to correspond with great entrepreneurial success.

And, in this respect, he made clear who are the entrepreneurs he wants to be funding:

Through history, entrepreneurs have been the hungry ones, the ones a little bit on the outside, willing to go above and beyond.

Listen to the podcast embedded below.