Type of site Crowdfunding Headquarters Stockholm, Sweden Website www.fundedbyme.com | Founded 2011 Industry Finance Current status Active | |
FundedByMe is a crowdfunding portal based in Stockholm, Sweden. The company is active in Scandinavia with offices in Singapore and Malaysia. FundedByMe's native language is English, but users can list their project in any supported language. The company was founded in March 2011 by Arno Smit and Daniel Daboczy. In September 2012, the company launched FundedByMe Equity, an equity crowdfunding portal in addition to its donation crowdfunding portal.
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Summary
FundedByMe is Sweden's first crowdfunding platform. They provide equity crowdfunding for entrepreneurs and p2p (peer-to-business) crowd-lending. They began the equity crowdfunding in October 2012 and started with equity crowdfunding in Finland in January 2013. They have raised more than €23 million as of June 2016
Funding model
The FundedByMe portal operates on the "all or nothing" funding principle, where investments are made on a pledge basis and pledges are not released unless the project meets or exceeds a pre-set funding target.
By February 2012, FundedByMe had reportedly conveyed over USD $1 Million to "mostly smaller projects" to launch businesses, fund equipment purchases, or back project concepts. The FundedByMe project reportedly raised its own launch capital via crowdfunding. The company has listed various cultural projects and also "includes journalism as one of their categories" with a focus on projects from countries in Africa, Europe, Asia, and the United States.
Crowdfunding process
Projects or startups seeking funding are submitted to FundedByMe or FundedByMe Equity for review. If the project is accepted, it is listed on the portal and eligible for funding.
Partners
In 2012, FundedByMe entered a partnership with Internetfonden to support the launch of technology based startups in Sweden.