Today Estonian fintech startup EstateGuru, a platform for short-term property-backed loans, has closed a €880K funding round on investment platform Seedrs. This funding is part of the company’s €5 million Series A round, and far exceeded their original €350K investment target for the round.
Founded in 2013, EstateGuru is a pan-European marketplace that facilitates property-backed loans for SMEs and carefully selected investment opportunities for its global investor base. By connecting different service providers, SMEs and investors into one single marketplace, it can offer a seamless, cross-border and digital service for borrowers and investors. Its aim? To become the biggest real estate financing platform in Europe by 2025.
Marek Pärtel, co-founder and CEO of EstateGuru commented: “We’re delighted to see that so many people around the world believe in alternative financing and new business models. Our campaign happened to go live during the deepest crisis and yet, over 1000 people from 37 countries trusted and supported us. The largest number of investors came from Germany, where we have our biggest platform investor community as well, followed by Great Britain, Estonia, the Netherlands and Lithuania. Great Britain also happens to be on our priority list for expansion”.
Tom Field, Seedrs Investment Associate said: “We’re so pleased to see EstateGuru’s success on the Seedrs platform. EstateGuru saw a high level of interest in their webinars and discussion forum and I’d like to congratulate the EstateGuru’s team for such an outstanding campaign. They are the first Estonian business to successfully fund on Seedrs and we hope they have paved the path for many more Estonian companies to fundraise through our platform!”
Funds from the Seedrs round will be used in three strategic areas: geographical expansion, delivering an ambitious technology roadmap and developing the area of capital markets and institutional investments. Finland and Germany are on the priority list of the expansion plans for this year.