FundedByMe has expanded from their native Sweden and launched their equity crowdfunding platform in Finland. The company also offers the more traditional rewards-based crowdfunding platform (think Kickstarter), but equity crowdfunding offers some interesting new opportunities to startup companies by allowing them to raise money by selling shares to a large number of investors who can invest smaller amounts of money. The minimum amount needed to invest on FundedByMe is €50.
The company clarifies that their product is already “global” (meaning it’s up to you to know the regulatory limitations of your country) but Finland will be the first to have its own office.
For why the company decided to come to Finland, the press release states, “Over the past few months the company has seen a lot of traction from Finland on its platform from both entrepreneurs and investors, as a result the nation now has a team dedicated to the local market and provides support in the native language.”
In addition to that, one of the reasons FundedByMe may have chose to come to Finland rather than neighboring Norway and Denmark is the fact that we already have at least two equity crowdfunding players operating here. Venture Bonsai is the oldest running platform, but currently has no companies running a funding round. Invesdor meanwhile has about four companies running rounds, with €96,000 raised through the platform.
Setting up in Finland also means a chance to operate under the same legal framework as the rest of the EU, should they choose to expand south.
To see a list of some crowdfunding projects going on in the Nordics, check out the crowdfunding roundup we published last week.