FundedByMe's improved efficiency leads to about 45% decrease in operating costs, while the market situation remains solid for 2020*

FundedByMe's actions to lower its operating costs continue to show results. Costs for the second half of 2019 are estimated to be 45 percent lower compared to the first half. Several previously communicated measures have been fulfilled during the fourth quarter.

“I am happy to see that we have achieved these short-term objectives since they form a good foundation for future development for the company. Our assessment is that the market situation continues to look strong for 2020, which is proved by the number of successful Crowdfunding cases and completed customer assignments in Laika, during the fall," says FundedByMe’s CEO Daniel Daboczy.

During the fall, a number of milestones were achieved, including:

• An agreement has been signed with Tario AB to develop a secondary market function for unlisted shares. The two companies signed a letter of intent earlier this fall. The ambition is to launch the first version during Q1 2020. The function is expected to lead to increased investor activity on the crowdfunding portal.
• FundedByMe has reduced its ownership to less than 20 percent in all co-owned joint venture companies abroad. This change in categorization in accounting ensures that FundedByMe Group does not account for its share in the possible losses of the partner companies. At the same time, FundedByMe retains sufficient ownership to continue to have a strong presence in the countries concerned and continues to reach large groups of investors abroad.
• The product “Crowdfunding for listed companies” has been finalized and the work is underway towards the launch of the first customer case. The product offers public and listed companies (in Sweden) the opportunity to implement crowdfunding as part of their strategy for raising funds through FundedByMe and exploit the opportunities that crowdfunding entails.
• Feminvest has been converted to its own company where FundedByMe AB (publ) is a majority owner with 60 percent.
• The company's costs continue to decrease. For example, operational costs for the second half of 2019 have fallen by about 45 percent compared to the first half of the year. These figures mean that the company's costs are now at a long-term sustainable level without affecting customer satisfaction. The company will present its year-end report with full figures for 2019 by February 28, 2020.

*English translation for convenience only

For further information, please contact:
FundedByMe Crowdfunding Sweden AB
Daniel Daboczy, CEO
Mobile: +46 (0) 73 6269985
Email: daniel@fundedbyme.com

About FundedByMe
FundedByMe is a tech company, focusing on the financial markets. Today the company offers a digital and global platform for financial support for startups and growth companies around the globe. Customers sign up online where they are able to book their investment interest in different companies. The company consists of FundedByMe.com, Feminvest and Laika Consulting, as well as 6 joint ventures in Finland, Malaysia, Singapore, Poland, The Netherlands, and Dubai/UAE. Together the group reaches over 269,000 registered investment members globally. For more information visit www.fundedbyme.com