Leading pan-European marketplace for short-term, property-backed loans, EstateGuru has today closed a €880K funding round on investment platform Seedrs. This funding is part of the company’s €5M series A-raise, and far exceeded their original €350K investment target for the round.
“We’re delighted to see that so many people around the world believe in alternative financing and new business models. Our campaign happened to go live during the deepest crisis and yet, over 1000 people from 37 countries trusted and supported us”, says Marek Pärtel, co-founder and CEO of EstateGuru. “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”, added Pärtel.
“We’re so pleased to see EstateGuru’s success on the Seedrs platform. 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!”, commented Tom Field, Seedrs Investment Associate.
Funds from the Seedrs round will be used in three strategic areas: geographical expansion, delivering an ambitious technology roadmap and developing the area of capital markets and institutional investments. Finland and Germany are on the priority list of the expansion plans for this year.