Funderbeam, a Tallinn, Estonia-based angel investing and trading platform, raised 40m in funding.
VentureWave is to take a strategic majority stake in Funderbeam and contribute its capital, global networks, leadership and Vestiver platform capabilities. Co-investors in the round included Mistletoe; Draper Associates; and Kaidi Ruusalepp, the founder of Funderbeam.
Following the transaction with VentureWave, the company will now additionally serve institutional clients – VC funds, family offices, brokers and investment banks. Until the transaction is approved by the regulators in the UK, Singapore and Estonia, no further corporate level actions and decisions will be made.
Led by Kaidi Ruusalepp, founder and CEO, Funderbeam aims to solve the liquidity problem of angel and venture investments. Its infrastructure is built to help investor networks, accelerators and other venture investors manage their syndicated investments, post-investment flows and handle secondary transactions across borders. The company holds investment firm licences in the UK, Estonia (covering EEA) and Singapore. In September 2019, Funderbeam became a Recognised Market Operator by MAS and can offer a fully regulated exchange service worldwide.
FinSMEs
08/05/2023