Estonian startup Funderbeam has announced that it’s taking its crowdfunding service for startups outside of Europe for the first time.
Speaking at the Slush conference in Japan this week, Funderbeam CEO Kaidi Ruusalepp said the company had raised $2.15 million from Japanese investor and incubator Mistletoe to fund the expansion.
“Our vision has always been to become the global stock exchange for startups,” said Ruusalepp on the stage. “We’ve built the world’s first blockchain-powered always-open exchange, and now it’s time to scale outside of Europe.”
Funderbeam operates essentially like a private stock exchange for startups. A company that joins Funderbeam can give shares to investors, who can then trade them with other investors on the Funderbeam platform, with identity and stock being verified through the blockchain. Since its launch in 2014, the company says it has helped startups raise $2.1 million from investors in 80 countries.
In general, it’s an attractive option for entrepreneurs in regions where venture capital and other forms of risk investment can be hard to come by. Funderbeam said it will partner with Mistletoe to develop a more targeted strategy to reach Asian-Pacific startups.
Funderbeam itself has now raised about $7.36 million, including a little more than $452,000 from investors on its own platform.