Finland welcomed a new equity crowdfunding platform today. Innovestor, a company formed this past May, was launched by CEO Tommi Äijälä and Antti Parviainen to help cultivate and fund startups. Recognizing a common theme around the world that one of the most challenging obstacles for a young company is finding appropriate and adequate funding, they created Innovestor to tackle this challenge. Their platform not only lists the offer but Innovestor also assist with the terms, documentation and presentation of the securities to potential investors. The two founders have extensive experience in the financial industry and they have combined that experience with a broad ranging and diverse board of advisers and industry experts to assist in the growth of the platform. Innovestor expects to only accept about 10% of the companies that apply to list on their platform. They want to position their platform as offering only the best startup and growth companies in Finland.
According to a report in ArcticStartup, Innovestor is targeting a more elite clientele looking at a minimum investment of €20,000 to 50,000 – contrast to other equity crowdfunding platforms that have a tendency to start with a lower minimum. They also see institutional or corporate investors as a target group. Innovestor has a funding round range of €500,0000 to €5,000,000. To pay for their services they will take a 5% cut of funds raised plus a 2% equity stake in the listing company.