Global funding and trading platform Funderbeam has raised $4.5 million in a Series A funding round, led by UK-based Accelerated Digital Ventures (ADV).
The Asian investors joining the Funderbeam investment round include GK-Plug and Play Indonesia, Taizo Son’s Mistletoe, and Pandan Ventures, a Singapore-based VC.
GK-Plug and Play Indonesia is the local unit of US-based accelerator programme set up in partnership with local conglomerates such as Gan Konsulindo, Astra, Bank Negara Indonesia, Bank Tabungan Negara, and Sinar Mas.
Mistletoe is a hybrid accelerator and incubator founded by Taizo Son, popularly known as the founder of GungHo, Japan’s largest online game company.
Estonia-based Funderbeam was founded in 2013 to offer access and liquidity for growth investments. The company hosts a range of startups and SMEs for cross-border investment and trading.
Funderbeam founder and chief executive Kaidi Ruusalepp said, when she was the head of NASDAQ in Talin, she found that Estonian investors and companies had limited access to global capital markets.
“When I set up Funderbeam in 2013, it was hard to get access to growth capital and we had to move our HQ closer to [where the] money [came from]. Those two sides of the story are the heart and soul of Funderbeam – to serve private investments and growth companies no matter where they come from,” Ruusalep said.
And, investors also get easy access to companies on the Funderbeam platform. The due diligence process also ensures the quality of companies on the platform.
Funderbeam, which has recently expanded into the UK and set up an office in Singapore, will also increase its presence in the Nordic countries. It now has five offices across the world.
Proceeds from the round will help the company develop a strong secondary market offering, as well as further expansion into key markets such as Asia and continental Europe.
“Liquidity is fundamental to venture capital. Without a viable liquid market, early-stage investment is constrained and company growth is negatively impacted. Funderbeam is building a platform which enables liquidity, maintaining the momentum of companies and allowing investors to go again,” ADV chief executive Lee Strafford said in a statement.
Funderbeam has 37 portfolio companies on the marketplace with over 10,000 verified investors across 119 countries. At least $2.2 million worth of investment shares have exchanged hands through the company’s secondary marketplace platform.