Financial Technology Brand Closes Funding Round With Show of Investor Confidence in Growth Strategy
Symbid Corp. (OTCQB: SBID), one of the first investment crowdfunding platforms worldwide, announced on Thursday (January 5th) the closing of its Private Placement Offering as one of a few companies to raise finance at a price 100% higher than its listed U.S. stock price. The funding will support both vertical and horizontal expansion of the Company’s business model with new products and geographies being added in the first quarter of 2015. Symbid Corp. placed 1,250,000 shares at $0.50, raising a total of $625,000 from its global investor base to support the growth of the Company’s online funding platform.
CEO of Symbid, Korstiaan Zandvliet, stated,”Management is delighted we were able to conduct this funding round at double our stock price. This confirms that our investors are in full support of our business strategy as we expand from an equity crowdfunding platform to a broader network of funding. It’s especially pleasing that both existing and new shareholders across Europe and the United States can recognize our true value. We would like to thank all Symbid investors for their continued participation in our mission to simplify the way small and medium-sized businesses are funded through innovative financial technologies. Together we’re building the world’s first integrated network of SME finance.”
Symbid became the first crowdfunding platform worldwide to be publicly listed in December 2013. The Company has since evolved into a leading financial technology brand while growing its product portfolio. This latest funding round was concluded with a number of well-known Silicon Valley technology investors. Their investment follows a signed agreement with financial advisory firm Credion to channel an expected $860 million worth of transaction volume through the Symbid funding network in 2015. Symbid is introducing loans to its platform as a result of this partnership, with more funding options being added in the second quarter of 2015.
Former managing director of Deutsche Telekom, Hendrik Kasteel added,”Our investment in Symbid is based on a firm belief that this company has the potential to disrupt the financial world by creating a transparent and efficient online network of SME funding and asset management. The signed deal with market leader Credion is evidence that Symbid is now really starting to deliver on this potential. We anticipate online funding to become the next big thing in finance, and we’re confident that Symbid can utilize its first mover advantage to lead this process. I’m excited to watch Symbid develop throughout 2015.”