The UK’s leading crowdfunding platforms are set to merge after Crowdcube agreed a deal to acquire Seedrs.

The platforms have said that the planned merger, which is still subject to regulatory approval, would create “one of the world’s largest private equity market places.

“Together, we will help fund thousands of ambitious, fast-growth businesses and deliver exceptional returns to the investors who support them.”

The merger will be structured as an acquisition of all the outstanding share capital of Seedrs via a scheme of arrangement, and existing Crowdcube shareholders will own 60% of the combined company, with the remainder owned by backers of Seedrs.

Since 2011, £2 billion has been invested through campaigns on the two platforms, with more than 1,500 companies – including Brewdog, Grind and Hop Vietnamese – securing funds.