EstateGuru raises £1.1m from crowdfunding campaign
Estonia-based EstateGuru, a marketplace platform for property-backed loans, has closed a €1.3 m (£1.1m) crowdfunding round.
EstateGuru launched the round, its second in 12 months, on 5 May 2021 and gathered the initial minimum target of €500,000 in a matter of hours in a private mode only available to certain investors. This figure doubled a few days later when the round became public. The campaign was originally set to run for 40 days but closed after just nine days (four of which were public) with 971 investors taking part.
The round, which took place on Seedrs, saw 260 per cent funding over the initial target and has been closed a month ahead of schedule owing to what EstateGuru says was “massive investor enthusiasm”.
Marek Pärtel, co-founder and CEO of EstateGuru says rather than look for institutions or VC for equity capital, crowdfunding helps build the firm’s community but that it would be aiming to increase institutional investor relationships on the debt side in the coming months.
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Source: EstateGuru raises £1.1m from crowdfunding campaign – AltFi