Shipitwise, SportID Close Successful Funding Rounds

Logistics startup Shipitwise and corporate health platform SportID wrapped their crowdfunding campaigns overnight, raising 218,000 euros and 187,000 euros, respectively.

These are the two largest equity crowdfunding campaigns in Estonia so far. Largest campaigns on the other Estonian platform, Fundwise, have stayed below 100,000 euros.

Shipitwise and SportID are the first to raise money on the new Funderbeam platform, which launched in April. Funderbeam has built the world’s first primary and secondary market for early-stage startup investments, promising to bring liquidity to a market where investors have had to wait years for an exit.

Shipitwise, which is building a platform for shipping goods, seeks to increase its seed round to around 400,000 euros.


The New Crowdfunding Bourse

On Funderbeam investors can pool their money across borders to raise capital for startups. And for the first time ever, startup investors can trade their investments on an online aftermarket secured by the blockchain technology.

For startups, the marketplace provides a new way to raise capital globally and solves also the challenge of having to deal with many small investors in early days of building the company, a typical challenge of equity crowdfunding.

The first five startups to raise capital on Funderbeam were Huntloc, Paytailor, ShipitwiseSportID, and Sportlyzer. Paytailor failed to reach its target, Huntloc has raised just over half of its target, while Sportlyzer is above the target with a few days to go.

Funderbeam, which is co-founded by Kaidi Ruusalepp, Villu Arak and Urmas Peiker in 2013, has raised $2 million, mainly from British and Estonian business angels, and Vienna-based 3TS Capital Partners.

The next interesting step will be to see how will investors start to trade their investments in coming weeks.