Seedrs reports losses up 140% to £3.8 million as revenues rise 30% to £1 million

Revenues at one of the leading equity crwodfunding platform grew by 30% to £1 million in the year to December 2016 but losses rose by 140% to £3.8 million.

In a statement to Business Insider, the new CEO Jeff Kelisky said:

Seedrs made a number of specific investments into the business during 2016, recognising early that product innovation and scalability were two of the most fundamental prerequisites to long-term success. These are part of a two-year investment program that were not intended to bear fruit in 2016, and indeed would only start delivering benefits in late 2017. We are now on track to nearly doubling revenue in 2017 without a significant uptick in overheads.

The company will work on “efficiencies in [the company’s] cost base” in 2017, as well as revenue growth, Business Insider writes.

Find out more here.

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