FundedByMe and Privanet are joining forces to become the biggest player in crowdfunding.
FundedByMe announced today that they are entering a strategic partnership with Privanet, owner of Finnish crowdfunding platform AROUND. Privanet has acquired a 33,4 % in FundedByMe Finland OY through a private placement offering. Privanet is licensed by the Finnish Financial Supervisory Authority to offer financial services. The partnership will enable FundedByMe to broaden its offering to both investors and entrepreneurs.
"As part of our ambition to becoming the largest European player, we are now launching a strategic partnership with the licensed Privanet / AROUND and together doubling our capacity. This significantly increases our network of investors and also gives us the ability to operate throughout the EU in ways we have not been able to previously. This is an important step on the journey of FundedByMe growing geographically, and together, this partnership makes us the biggest player in the markets we operate in.
Our team has always been good at identifying and acting on macro trends. We saw a paradigm shift that led a whole new group of individuals to look for new ways to invest and engage with companies. Then when we realized that crowdfunding could only work long-term if it is a global phenomenon. And now we are seeing that, from a customer perspective, consolidation of the market is necessary." says Daniel Daboczy, CEO and co-founder of FundedByMe.
FundedByMe Finland has been run since April 2017 by Raine Luomanen and Casper Grönblom.
"After almost 20 years in finance, I have seen how the industry has evolved, not only because of the enormous steps taken in information technology but also how traditional structures for financing and investment activities have become outdated. New channels invite a bigger audience and the threshold to participate, as well as to seek funding is lowered.
The crowdfunding industry is still young. Many actors have experienced strong growth but still struggle with high costs. The partnership between Privanet / AROUND and FundedByMe will provide excellent conditions for us to offer the biggest available investor base to an increasing number of international entrepreneurs. The partnership will add a whole new dimension for entrepreneurs and companies seeking capital, as well as significantly increase the opportunities we can offer to investors "said Casper Grönblom, partner and chairman of the board of FundedByMe Finland.
Privanet is an investment services group specializing in trading of unlisted shares and corporate financing needs. They run the crowdfunding platform AROUND in Finland and are under the supervision of the Finnish Financial Supervisory Authority. Through this partnership agreement Privanet has acquired a 33.4% share in FundedByMeFinland OY.
For further information, please contact:
Casper Grönblom, Partner and Chairman of the Board, FundedByMe Finland
+358 40 555 4681