Swedish crowdfunding platform FundedByMe announces today that it has raised funding from Singapore-based Link2Ventures. The amount of funding was not disclosed making it tough to know what to make of the news, but with the funding FundedByMe will be looking for expanding throughout Asia Pacific, growing beyond its Singaporean office opened in 2013. Outside of Sweden, the company has operations in Finland, Denmark, Norway, Spain, Italy, Germany and Singapore.
In March, FundedByMe crowdfunded itself for €677,000 and offered 12.36% of their shares, meaning the company then valued itself at €5.4 million.
Growth has been decent for the company – since launching in April of 2011 FundedByMe has helped raise €6 million in reward-based and equity crowdfunding, and counts 39,000 registered users.
Recently FundedByMe has announced plans to open up peer-lending services to its users which may help push growth on the investing side. Equity crowdfunding involves plenty of risk and takes years before you see any hypothetical payout from an exit, but lending smaller amounts to businesses or individuals may see returns quicker, which then gets users opening their wallets for other investments.
The company is juggling plenty of balls at the moment – having to recruit both crowdfunders and crowdfundees in numerous markets to reward crowdfunding, equity crowdfunding, and soon peer lending. It will be interesting to see how the company continues growing and evolving.