money

Funderbeam has raised $4.5m in a Series A funding round led by UK-based Accelerated Digital Ventures (ADV).

The round also included new investors such as Draper Associates and GK-Plug.

Kaidi Ruusalepp, founder and CEO of Funderbeam, said: “When I set up Funderbeam in 2013, it was hard to get access to growth capital and we had to move our HQ closer to money.

“Those two sides of one story is the heart and soul of Funderbeam – to serve private investments and growth companies no matter where they come from.”

Lee Strafford, CEO of ADV, added: “Liquidity is fundamental to venture capital.

‘Without a viable liquid market early stage investment is constrained and company growth is negatively impacted.

“Funderbeam is building a platform which enables liquidity, maintaining the momentum of companies and allowing investors to go again.

“We share the vision of the Funderbeam team and are excited to partner with them on a journey which could change venture forever.”

Funderbeam aims to provide access and liquidity to growth investments, and has 10,000 verified investors across 119 countries.

The funding will aid the company to develop a strong secondary market offering as well as further expansion into key markets such as Asia and continental Europe.

This comes as Funderbeam recently launched in Scandinavia and the UK to help founders to raise private funding from a global network of investors.