Invesdor, an equity crowdfunding platform that merged with an Austrian debt-funding platform Finnest in 2019, has completed its first equity round in the DACH region (Germany-Austria-Switzerland). Biogena Group GmbH raised almost €2 million, according to reports by Invesdor.
Biogena, founded by CEO Albert Schmidbauer, the company has previously raised debt capital on Finnest which is positioned as an SME funding specialist or “Mittelstand spezialist.”
Based in Salzburg, Austria, Biogena is a health and micronutrient company founded in 2006. The company held listed an equity issuance on Invesdor from May 7 to May 13, 2020. Invesdor states that this is probably the first time an investment service company with a Finnish MiFID license has executed an equity offering for an Austrian company.
“We are extremely happy for Biogena: it was a great co-operation and a fantastic way to share our equity expertise cross-border-wise,” stated Invesdor CEO Günther Lindenlaub. “Going cross-border with this funding round is a step towards the ultimate goal of a single capital market. It’s a major step for both European companies and investors if we can continue to increase access to funding and investing across the continent; it offers more and new opportunities for everyone.”
Lindenlaub said that while the market has been challenging, due to the Coronavirus, Biogena’s success is indicative of ongoing interest in investing in promising young firms.
“We are excited to deepen our relationship with Biogena and at the same offer a new funding option for Austrian companies as well,” he said.
Invesdor is well-positioned to provide full-stack, online capital formation services within the DACH countries. Inevitably, Invesdor will want to expand its Fintech services across all of Europe.
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