Portugal: Three startups beat financing goals via Seedrs crowdfunding platform

Page created: Thursday, 24 August 2017 9:33 GMT


Lisbon, Aug. 23 (Lusa) – Three startups based in Portugal have secured funding from the European equity crowdfunding platform Seedrs, drawing on a combined total of €900,000 in two months, it was announced on Wednesday.

It is the first time that so many Portuguese startups at once have raised money via the platform.

The three companies in question more than met their funding targets, with one of them raising more than twice the amount initially sought, Seedrs said in a statement.

Homeit is a platform for remotely managing properties being let on short-term contracts. It raised its €250,000 in just four days and ultimately raised almost €510,000.

As for Corkbrick Europe, which has developed an innovative modular construction system that uses cork blocks, raised more than €166,000, against the €150,000 it was initially aiming for.

Agroop, a tech startup in the agricultural sector that was Portugal’s first company to engage in equity crowdfunding, completed its third round of funding via Seedrs, raising €200,000 and then a further €20,000.

“Aside from being unprecedented, the fact that we have three Portuguese startup campaigns running simultaneously and in overfunding shows the ever greater interest, both from companies and from investors, in equity crowdfunding,” a Seedrs statement quoted Filipe Portela, the platform’s director of business development, as saying.

It also shows that the method is “an alternative and effective source of finance and investment in companies in Europe”, he added.

Crowdfunding platforms allow individuals and institutions to invest online the amounts they wish in participating companies that they see as having strong growth potential.

Seedrs recently announced the creation of a secondary market for the trading of shares in companies financed through the platform. This tool, which was made available over the summer, allows investors to buy and sell shares, and also has the goal of making it easier for companies to attract more capital.

Seedrs has offices in London, New York, Amsterdam, Berlin and Lisbon.