Estonian Investment Marketplace Secures License in Singapore

Estonian Investment Marketplace Secures License in Singapore

by September 26, 2019
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Estonian fintech startup Funderbeam announced today that it has secured the Capital Market Services License and Recognise Market Operator license from the Monetary Authority of Singapore, marking the startup’s entrance into the Singaporean market.

Funderbeam’s marketplace enables investors to buy and sell equity stakes in private companies.

Founded in Estonia in 2013, the company is headquartered in the UK and regulated in Europe by the Financial Conduct Authority (FCA), and it was previously highlighted as the top 10 Hottest Fintech Startups in the Baltic States by our sister publication at Fintech Baltic.

The company aims to fill in the gap in venture and SME capital markets by providing access and liquidity to growth investments; namely by introducing trusted structures and technology to provide 24/7 global access to the service.

Kaidi Ruusalepp

Kaidi Ruusalepp

“Our vision is to be the funding and trading platform of global private companies. To achieve this, we had to introduce a new business model and technology that could overcome the limitations of the existing, regulated alternative markets.”

said Kaidi Ruusalepp, the founder and CEO of Funderbeam.

“We are very pleased to have been recognised by MAS in Singapore — underscoring the high degree of trust towards our vision. As we will soon be operating in two continents, obtaining recognition from the MAS adds further assurances to the robustness of our established marketplace and distinguishes us as a truly global funding and trading platform.”

 

To date, Funderbeam claims to have 39 high-growth portfolio companies on its marketplace and has onboarded over 12,000 verified investors across 122 countries.

Since the platform’s inception, more than US$3 million worth of investment shares have been exchanged via Funderbeam’s initial, limited secondary marketplace. Having now secured an RMO trading license, Funderbeam can accelerate the growth of its secondary offer, namely by introducing automated trading and secondary listing service to any private company in Europe and Asia and solve the long-standing liquidity problems present in start-up and SME investment.

With the CMS license, Funderbeam will now be able to make its platform available to Singapore-based companies and investors.

Featured image credit: Funderbeam team, 2019

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