May 18, 2018

Sharetribe raises EUR 1.1 million in crowdfunding

Sharetribe enables people to create their own peer-to-peer marketplace.
Sharetribe enables people to create their own peer-to-peer marketplace.
Screenshot/Sharetribe

Finnish software startup Sharetribe, which is dedicated to helping entrepreneurs and organisations to create their own sharing-economy platforms, needed only 48 hours to smash its crowdfunding target of 500 000 euros.

Launched on Invesdor, the equity crowdfunding campaign yielded a total of 1.1 million euros from investors from 42 countries around the world.

“The level of international interest was unprecedented,” states Lasse Mäkelä, the CEO of Invesdor. “With investors from more than 40 countries, Sharetribe is our most international campaign to date, by a long shot.”

Juho Makkonen, the CEO of Sharetribe, says he is both astonished and humbled by the success of the crowdfunding campaign. “We see this as proof that a better sharing economy is needed all across the world. This funding will help us reach our goal of making platform technology accessible to everyone.”

Sharetribe’s equity crowdfunding campaign was unusual in that, unlike most other technology startups, the software developer was not working towards an exit but rather towards raising funding to build a financially sustainable business for the long term.

The equity release was structured such that all voting shares will remain in the hands of active team members, while the investors will receive a pre-determined and capped share of the startup’s profits over the next 10 years.

“What WordPress did for publishing we want to do for creating marketplaces,” Makkonen told us in 2015.

 

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