Equity crowdfunding platform Seedrs has raised £4 million from Woodford Investment Management, the firm helmed by Neil Woodford.

Woodford Investment Management previously invested £6 million in the startup, which now brings his total investment to £10 million. Seedrs, which is reportedly valued at £40 million, has also opened up a crowdfunding campaign for new and existing investors to participate in this new round of funding.

There were some recent shakeups in the company with its CEO Jeff Lynn stepping down after eight years and taking on the role of executive chairman with COO Jeff Kelisky taking over as CEO.

The latest round of funding from Woodford and the equity crowdfunding campaign will be used to develop more products for the platform.

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