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ZSE presents Funderbeam SEE – new startup financing model





 

Funderbeam SEE wants to provide young companies in the early stages of their development with access to the necessary capital through joint financing. We want startups to continue operating in the environment in which they were established, thus being the main economy driver in the decades to come. With this innovative model of raising capital we will support the development of their entrepreneurial ideas and enable small and professional investors to invest money and participate in the success of the businesses they believe in, Ivana Gažić, President of the Management Board of the Zagreb Stock Exchange (ZSE), said.

On Friday, October 7, 2016, at a roundtable held during the ZSE annual conference in Poreč, founder and CEO of the Estonian Funderbeam Kaidi Ruusalepp and Ivana Gažić presented their joint project, Funderbeam SEE, an emerging company that ZSE has a 20% stake in.

Funderbeam is a crowdfunding platform for startups that investors can use to trade their shares on immediately after the initial investment phase, as if those were companies listed on the stock exchange. All that is possible thanks to an innovative system based on the Bitcoin technology. The value of Funderbeam has also been recognized by the founder of Skype Jaan Taalinn, one of the first investors in Funderbeam.

Initially, Funderbeam SEE will focus on companies from Croatia, Slovenia and Serbia. Eventually, the plan is to expand Funderbeam SEE’s business operations to the wider region. Nonetheless, from the very beginning investors from around the world will have access to the market.

In both Croatia and the region, there are young companies with excellent business ideas that need capital, as well as interested investors with enough available capital. The continued growth of savings and the historically low interest rates favor this particular process. Funderbeam SEE will be an active intermediary in their coming together, in line with the ZSE aim to be an institution covering a company’s entire life cycle, from the very idea to the company’s potential listing on a well-ordered market, Ivana Gažić announced.

Funderbeam breaks down old barriers, simplifies companies’ growth capital accumulation, and facilitates investors’ access to liquid funds. Seeing as Funderbeam uses innovative technology, our goal is to set up an alternative financing model for the future. We have found that, as the regional leader constantly looking for new development models, ZSE is an ideal partner to develop Funderbeam, said Kaidi Ruusalepp, founder and CEO of Funderbeam, former CEO of NASDAQ OMX Tallinn and coauthor of the Estonian Digital Signatures Act, which enabled the development of the country’s digital economy, explaining the reasons behind the partnership with ZSE.

A company that decides to raise the necessary capital through this advanced crowdfunding platform will have Funderbeam team’s comprehensive logistic support. Funderbeam checks the investors’ identities, examines the expertise of the leading investors and looks at the quality of the startups’ business plans as well as their willingness to communicate with the investors and their readiness for sudden growth. After the company is allowed to join Funderbeam, it can rely on an active support in presenting its business concept throughout all the stages of financing, until the trade in shares begins.

Furthermore, any company on Funderbeam can count on a lead investor. That can be someone from the very startup or an experienced individual who knows the company’s industry well and has a certain notion of the company’s investment potential. The lead investors invest themselves, thus demonstrating their trust in the company’s positive outlook, Funderbeam professionals explain.

Funderbeam SEE will use Funderbeam’s business model, meaning that an Estonia-based special-purpose vehicle (SPV) will be founded for the purpose of financing. The SPV will represent the company’s only owner, appearing on behalf of all the investors. The reasons for this include low expenses and no red tape. Moreover, that way startups do not have dozens or hundreds of investors but just one, the lead investor, who is also the SPV CEO. At the same time, after creating their investor profiles, both the lead and the small investors will at all times have control over their entire portfolio, in all the startups that they have invested in via Funderbeam. The minimum investment for each individual small investor in a company amounts to EUR 100. Creating investor profiles for investors is free of charge. This innovative capital accumulation system and trading platform boasts another special feature: trading requires no intermediaries or brokers, and the investors pay the 1% transaction fee only if they actually profit from a transaction.

Funderbeam’s database already contains information on more than 180,000 companies the world over. Moreover, Funderbeam comes with a set of advanced analytical tools providing both investors and companies with an insight into business operations and shares’ price movement, as well as with comparison to rival companies in the industry. That way, the investors have access to the best possible information on investments and the companies, and can make adequate investment-related decisions suited to their investor profiles.

Ivana Gažić also announced cooperation with HUB385 as leading coworking space in Croatia. HUB385 will ensure inflow of startups and take active role of lead investor in the projects that are identified as the most successful. We believe that the professional expertise of the founders of the project HUB385 can significantly contribute to the development of startups in Croatia, said Ivana Gažić.

Finally, at the end of the roundtable, at which the gathered financial professionals were able to hear details about the Funderbeam SEE platform, the President of the ZSE Management Board Ivana Gažić announced that the raising of the funds through this platform in Croatia would start by year-end. She then invited all the companies interested in investing as well as all the investors to join the platform and start the procedure of capital accumulation and investments. 










 
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