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.