EstateGuru has exceeded its funding target by 252 per cent to raise €880,000 (£783,583) on equity crowdfunding platform Seedrs.
This funding is part of the European property peer-to-peer lender’s €5m series A fundraise. The platform has exceeded its original €350,000 investment target for the round, securing 1092 investors from over 37 countries.
The firm will use the proceeds to expand into Finland and Germany, improve its technology and develop its business into capital markets and institutional investments.
“We’re delighted to see that so many people around the world believe in alternative financing and new business models,” said Marek Pärtel, co-founder and chief executive of EstateGuru.
“Our campaign happened to go live during the deepest crisis and yet, over 1000 people from 37 countries trusted and supported us.
“The largest number of investors came from Germany, where we have our biggest platform investor community as well, following by Great Britain, Estonia, the Netherlands and Lithuania. Great Britain also happens to be on our priority list for expansion.”
“We’re so pleased to see EstateGuru’s success on the Seedrs platform,” said Tom Field, investment associate at Seedrs.
“EstateGuru saw a high level of interest in their webinars and discussion forum and I’d like to congratulate the EstateGuru’s team for such an outstanding campaign.
“They are the first Estonian business to successfully fund on Seedrs and we hope they have paved the path for many more Estonian companies to fundraise through our platform!”