Symbid, an online funding platform for start-ups and small businesses, today announced its transaction volume since launching The Funding Network on March 4th. Over 50 companies were funded via The Funding Network™ for a total of $40.1 million in 22 days, creating the potential for future Symbid revenue streams. The results include the hybrid financing of a temporary work agency and book wholesaler by a bank and venture fund for a combined total above $2 million.
Symbid began as one of the first equity crowdfunding platforms worldwide and now offers several forms of corporate finance including bank loans, venture capital, angel investors, factoring, leasing and crowdfunding. The results confirm that The Funding Network™, in collaboration with its strategic partners, is on track for an expected transaction volume worth $800 million in 2015. Symbid announced the results on the same day Dutch Minister of Economic Affairs Henk Kamp visited its offices in Rotterdam.
Korstiaan Zandvliet, co-founder and CEO of Symbid, announced:
“Facilitating over $40 million of investments in just 22 days is a great achievement for The Funding Network. By combining different types of finance on one platform we’re simplifying the way small businesses are funded. Symbid is now well on its way to building a more efficient, transparent capital market for investors and entrepreneurs. With over 40 institutional and 30,000 private investors already connected to The Funding Network, we at Symbid are excited about its potential for generating future revenues and, ultimately, helping to democratize finance.”
The Funding Network is a go-to platform for start-ups and small businesses in search of funding, connecting traditional and alternative finance with advanced investing, monitoring and standardized data tools. These results, with over $40 million funded via The Funding Network™ in its first month, are a validation of the new, online model for the financial industry. Although this funding volume does not currently equate to a significant revenue stream there is potential for a monthly recurring revenue model to be added in the near future.
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