Slush announced today that the winner of last year’s Slush 100 pitching competition, Enbrite.ly, has closed an investment round of 750 000 euros. Enbrite.ly, the ad fraud stopping company based in London and Budapest, gathers funding from Evli Bank, SpeedInvest and a business angel consortium consisting of FiBAN business angels. If anything, this should encourage you to apply for our OP pitching competition, which is based on exactly the same type of deal with FiBAN. Deadline for the applications is today at midnight.
Enbrite.ly was founded in the beginning of 2014, and they participated on the Helsinki-based Startup Sauna Accelerator in October 2014. After the successful accelerator experience, Enbrite.ly took part in the pitching competition that really got their business rolling. “In six months, we went from crude sketches on a piece of paper to investment-worthy product with paying customers and won the Slush 100 pitching competition,” Enbrite.ly’s story is described on their website.
After winning Slush 100 Evli Bank and the FiBAN angels offered 500 000 euros to Enbrite.ly, and later in this spring SpeedInvest added another 250 000 euros to the seed round. According to Enbrite.ly team, the investment will be used mainly in marketing and accelerating international growth.
”What impressed us in Enbrite.ly during Slush 100 was their functioning business model and awareness of the market. Not to mention the team, which is extremely promising and ambitious,” Riku Asikainen, Chairman of FiBAN and lead investor of the angel syndicate in Enbrite.ly, describes to Slush.
We are looking forward to hear more this sort of news after our OP pitching competition at Arctic15. The winner of which will receive an investment of €50 000 EUR through the FIBAN syndicate and over €15 000 worth of additional gifts. Just as in Enbrite.ly’s case, the winner will have the possibility to negotiate on growth funding with a syndicate led by (but not limited to) an angel consortium led by FiBAN.
As a part of coming up with the prize for Arctic15, we got an inside look on how the Slush deal was structured, so if you are interested – check out the Q&A here, and also the official rules on the competition page (announced when we have our TOP 30 companies).