18 February 2018
visit www.ebaday.com

Funderbeam raises $2.6 million to propel startup financing

12 October 2016  |  4467 views  |  0 back of one dollar note

A blockchain-based startup for trading in growth companies founded by former Nasdaq Tallin stock exchange head Kaidi Ruusalepp has raised $2.6 million in a funding round led by Draper Associates, Thomson Reuters, and IQ Capital.

The two-year old Estonian company is looking to solve the problems faced by startups in securing financing in pre-IPO markets, by providing research and investment tools alongside a secondary market trading venue.

The new funding round comes just a week after Funderbeam announced an alliance with the Zagreb Stock Exchange (ZSE) to create a joint venture that will enable investors to invest in growth companies in South-east Europe and trade their investments.

Ivana Gazic, president of Supervisory Board at Zagreb Stock Exchange says the objective of the JV is to provide a platform for early stage companies that offers support across the full business lifecycle, from very early stage crowdfunding to VC funding through to a listing on the main market.

All assets traded across the secondary market platform will be notified and registered on a blockchain.

Funderbeam's Ruusalepp says the venture wants to have the first companies fundraising and trading this year and has extended an invitation to all startups and local accelerators and angel investors to apply.

“Funderbeam has created a solution for financing companies and trading their investments cross-border without unnecessary friction," he says. "We aspire to make this new funding and trading model global, and finding strong and reliable partners is part of our global ambition."
KeywordsFINDEX

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related blogs

Create a blog about this story (membership required)
visit www.nextgenbanking.co.ukvisit www.swift.com/your-needs/instant-paymentsvisit http://info.nice.com

Who is commenting?

Top topics

Most viewed Most shared
Saudi central bank provides sandbox for banks to try out Ripple techSaudi central bank provides sandbox for ba...
10720 views comments | 16 tweets | 11 linkedin
Aussie real-time payments platform goes liveAussie real-time payments platform goes li...
8400 views comments | 15 tweets | 41 linkedin
ECB launches staunch defence of cashECB launches staunch defence of cash
8095 views 10 comments | 21 tweets | 26 linkedin
hands typing furiouslyHow can Blockchain Help with AML KYC
7832 views 3 | 9 tweets | 4 linkedin

Featured job

Competitive
Germany, Austria or Switzerland

Find your next job