FundedByMe, an investment crowdfunding platform, has reached its max self-crowdfunding goal of SEK 20 million (USD$ 2.4 million). According to the campaign page, FundedByMe had 867 investors for 8.02% of the company’s shares.
FundedByMe launched its offer on November 10, 2017 and easily raised its minimum hurdle of SEK 9 million. FundedByMe reports that the campaign was launched in stages, through both offline / online activities and closed with an over-financing of 500%.
FundedByMe has previously announced its expectation to seek an initial public offering in 2018. Today, the company has more than 100,000 registered members backing early stage companies. FundedByme has incorporated several strategic partnerships including the collaboration with Privanet Securities Oy in Finland.
FundedByMe shares its desire to provide opportunities for everyone to become shareholders in promising young companies including owning equity in the platform.
This most recent investment will be used to prepare for the IPO, expansion of the sales force and marketing. FundedByMe will further develop the technology to provide better services nationally and internationally. Management says the growing user base demand new features for communication and monitoring of investments. FundedByMe adds that it has launched an operation to buy / sell unlisted shares that will be developed further.
“We have reached our max goal of 20 million and would like to thank all for their interest, confidence and willingness to invest in us. We have created a waiting list for those who expressed interest but were unable to invest. Now begins our work in order to show what we can accomplish with FundedByMe. Furthermore, we need to focus on FundedByMe’s internationally strong position. This is just the beginning and we feel very strong, the team is top class and confident. The market is very interesting and we look forward to leading the future of the financial industry,” said Daniel Daboczy, CEO, FundedByMe.
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