Goldman Sachs’ Circle completes SeedInvest purchase with approval of FINRA

04 Mar, 2019 | Updated: 04 Mar, 2019
by Joeri Cant
News
Goldman Sachs’ Circle completes SeedInvest purchase with approval of FINRA

Crypto startup Circle announced today the succesful acquisition of SeedInvest, a leading equity crowdfunding platform in the United States and operator of a registered broker-dealer, after regulatory approval by FINRA.

The company’s co-founders Sean Neville and Jeremy Allaire announced the acquisition of SeedInvest in a blog post and on Twitter, after the regulatory approval by the Financial Industry Regulatory Authority.

'We are incredibly excited to welcome the SeedInvest family of employees, startups, and investors into Circle', the co-founders wrote.

'The acquisition is a further step toward realizing our vision of a more open, global, connected, and inclusive financial system. Today SeedInvest is at the forefront of enabling startups to raise capital directly from investors over the internet, creating new capital formation options for startups and growth companies, and giving average retail investors the opportunity to invest directly into innovative private companies.'

Read more: Circle CEO, Jeremy Allaire, is getting ready for the 'tokenization of everything'

SeedInvest is company, that at first sight, has nothing to do with cryptocurrency. However, as Circle founder and CEO Jeremy Allaire explained in October 2018, SeedInvest can be a cornerstone to his believe that most of the existing financial systems are going digital.

'If we zoom out, there's going to be this tokenization of everything' Allaire said.

'Eventually these marketplaces will have tens of thousands, if not hundreds of thousands of assets, so the next piece was a broker dealer, licensed and ready to go.'

SeedInvest published a statement of their on its webpage, poiting to the fact that after the acquisition, the company will keep working as usual, focused on democratizing startup investing, just with greater resources.

The CEO and co-founder of SeedInvest, Ryan M. Feit said that selling your company is often compared to sending your first-born child off to college, so it was very important to them to ensure that SeedInvest was in good hands.

'Over the past nine months we’ve had the opportunity to really get to know the Circle team and we can’t wait to start working together. This is an exciting time for all of us at SeedInvest and we look forward to delivering an even better experience to you as part of the broader Circle family.'

'We are confident that we can achieve significantly more and at a higher velocity with Circle', the co-founder of SeedInvest concluded.

Read more: Crypto startup Circle is seeking $250 million in new funding

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Read more about: Goldman Sachs Circle

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