Crowdfunding platform Seedrs' first full accounts show losses up 140% to £3.8 million as revenues rise 30% to £1 million;

CEO says losses down to planned two-year investment programme, intended to pay off in 2017;

"We are now on track to nearly doubling revenue in 2017 without a significant up-tick in overheads," CEO says.

LONDON — Crowdfunding platform Seedrs lost £3.8 million on revenues of £1 million last year, new accounts show.

Seedrs' first set of full accounts filed with Companies House show that losses grew much faster than revenues in 2016.

Revenue grew by 30% to £1 million in the year to December 2016 but losses rose by 140% to £3.8 million.

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