Goldman Sachs-backed cryptocurrency platform Circle announced on Friday it had agreed to acquire equity crowdfunding firm SeedInvest to help startups issue digital assets and provide its own clients with exposure to a wider variety of tokens.
According to Circle’s post, the deal is pending approval by the Financial Industry Regulatory Authority (FINRA). The acquisition will add 30 members to Circle’s team. The terms of the transaction have not been disclosed.
Founded in 2012, SeedInvest allows small, privately-run companies to source capital from a large pool of individuals and accredited online investors. According to the website of the New York-based company, over 150 startups have benefitted from the service, with close to 200,000 investors helping startups raise more than $115 million.