FundedByMe presents half-yearly report on August 7th for the period January-June 2019
As a result of the publication of the half-yearly report, FundedByMe’s CEO will hold a live press conference through Pressträff Direk on Monday, August 12th at. 16:00.
- Sales for the Group for the first half of 2019 amounted to SEK 9.9 million Swedish crowns
- Operating profit for the Group in the first half of 2019 amounted to SEK -19.9 million Swedish crowns
- Operating profit per share excluding non-recurring items for the first half of 2019 amounted to -3.32 Swedish crowns.
Comparative figures for the Group 2018-01-01 to 2018-06-30 are missing as the Group was created 2018-08-02.
- Sales for the Group for the period amounted to SEK 9.9 million Swedish crowns.
- For the Parent Company, sales were SEK 3.1 million Swedish crowns, a decrease of 39% compared with the corresponding period last year.
- The Parent Company conducted 20 successful crowdfunding rounds during the period, compared with 29 during the same period last year.
- The Group's operating profit for the period amounted to SEK -19.9 million Swedish crowns, which was affected by investments for future growth and one-off costs linked to the reorganization of Laika Consulting AB and the listing process at NGM Nordic MTF.
Significant events during the period
- On March 8, 2019, FundedByMe was listed on NGM MTF.
- In March 2019, the Company implemented Stripe as a payment service provider, which enables an increase in the number of smaller transactions in equity crowdfunding.
- In March 2019, the Company has completed the requirements for the launch of its licensed operations in Dubai / United Arab Emirates. The license applies to conducting equity crowdfunding activities for accredited and non-accredited investors and holding of client funds. FundedByMe MENA operates under DIFC after obtaining an equity crowdfunding license from DFSA.
- April 2019 - FundedByMe initiates collaboration with Global Custodial Services (GCS), an international payment solution, to facilitate transactions for their joint venture FundedByMe Dubai / FAE partners and to better allocate payments for international campaigns and investments.
- During Q2 2019, consolidation and reorganization was initiated by FundedByMe and its subsidiary Laika Consulting, which included a move to shared premises. In connection with the consolidation, a process was started to digitize Laika Consulting.
- April 30 to May 17, 2019, FundedByMe conducted a rights issue.
- On June 27, 2019, FundedByMe formally took over the subsidiary Feminvest.
Significant events after the end of the period
- On July 2, FundedByMe announced that the company had signed a letter of intent (LOI) with a potential new partner in Singapore with the ambition to apply for CMS license (Capital Markets Services license).
- On July 26, a rights issue decision was passed on April 18
Summary of the CEO's word:
To say the least, our first time as a listed company has been overwhelming. Q1 was tough for us, just like for the industry as a whole. At that time, the level of activity from customers in need of assistance with raising capital and issues was unusually low. But during Q2 we saw a clear improvement and a return to more normal levels. The FundedByMe Group's listing has been interesting, educational and evolving, but also very challenging. The time after the listing was far from what we had hoped for.
The acquisition of Laika and, subsequently, the merger of our operations has taken a lot of time and resulted in one-off costs that were larger than we initially expected. We have chosen to implement this process as quickly as possible so that together we can now focus forward as a stronger company.
During 2019, we have invested heavily in the development of our technical platform, which has already started to show results when entrepreneurial customers can more easily execute successful campaigns, and that investor-clients have been able to benefit even more from the platform.
The strategy ahead is clear. The Board and the teams are strong and the focus is now on sales, cost control and in maintaining relevance, position, and growth. The scalability of our business lies in digitization as well as the efficiency of platforms and products, areas where we are constantly developing to continue to be at the forefront.
As CEO, I am ready to lead the Group forward with continued energy, driven by all the opportunities I see ahead of us, but also because our vision and mission is to change and improve the financial world by running one of the world's best equity crowdfunding platforms with added functions and products from Laika, Feminvest and its subsidiaries.
CEO FundedByMe & Laika Consulting
The CEO's word as a whole can be found in the interim report.
For more information please contact.
FundedByMe Crowdfunding Sweden AB
Daniel Daboczy, CEO
+46 (0) 73 6269985
FundedByMe is the fastest growing crowdfunding platform in Scandinavia and one of the few full-service platforms offering capital through equity crowdfunding. In the past years, some 470 companies from 25 different countries have been successfully funded with more than €52 million. The member base is a rapidly expanding network of more than 250,000 investors from nearly 200 countries around the world. FundedByMe is headquartered in Stockholm, Sweden, with a local presence in Dubai, Finland, Malaysia, Poland and Singapore. For more information visit www.fundedbyme.com
FundedByMe is a listed company consisting of a group of companies: FundedByMe.com, Laika Consutling, Feminvest as well as 6 Joint Ventures outside of Sweden. The share can be found at for instance Avanza.