Startup to Watch: Funderbeam
This week we are focusing on up and coming tech city, Tallinn, home to the likes of Skype and Transferwise, Tallinn has been quietly climbing to the forefront to become a major tech hub, bursting with entrepreneurs and startups. The startup to watch this week comes from Skype co-founder Jaan Tallinn, Kaiti Ruusalepp and Urmas Peiker, who started Funderbeam in 2013.
Funderbeam is a new and innovative startup investment and trading platform, aimed at helping local startups attract greater foreign investment. The blockchain trading platform is giving startups a much needed helping hand when they first start out, specifically those who are seeking angel investors before they make the move of going public.
This new platform allows startups to raise capital globally without some of the more stringent challenges that often harness smaller startups in the early stages. Similar to Kickstarter, the platform allows you to see how much money the startups are looking to make, how much they have made so far and how long the campaign will last for.
And for investors the platform allows for more leverage over their own early stage investments. Investors are able to pool their money across borders in order to raise the capital needed for startups. This is the first time in history where startup investments are being traded using blockchain technology, which Funderbeam hopes will make trading more secure, efficient and transparent.
So far Funderbeam has raised $2 million in investment, and the platform has data from over 150,000 startups. Two Estonian based startups have already achieved their funding goals in the space of a few weeks and foreign startups are also being introduced to the site as it continues to develop.
Funderbeam’s innovative platform is providing a crucial supportive tool for the startup scene, helping startups at a critical time in their development, with their visibility and investment chances, and we can’t wait to see how more startups benefit from Funderbeam.