The London-based company, which provides a platform for ordinary people to provide early-stage investment for startups in return for a share in the company, had originally called for £750,000 of investment in return for 12.66% equity.

But it extended the opportunity for investment to satisfy investor demand.

It has now secured over £2.1m – nearly three times the target amount – from over 850 investors, in return for just under a 30% stake in the business, breaking the record for the largest amount ever raised on an equity crowdfunding site.

The firm said it will use the funds for its “aggressive expansion plans” following its recent pan-European expansion, which made it the first equity crowdfunding platform open to investors and entrepreneurs throughout the continent.

Jeff Lynn, chief executive and co-founder of Seedrs, said: “We were completely overwhelmed by the support our campaign received. We see this as a tremendous validation of equity crowdfunding, our model and our business, and we want to thank everyone who has invested for joining us on our journey.

“For most entrepreneurs, raising £2m is a long, painful process. Using our own platform we’ve shown how startups can harness their customers’ enthusiasm to raise money quickly and efficiently.”

Seedrs has more than 27,000 registered members on its books, who can back businesses with as little as £10.