Transfluent exceeds crowfunding expectations
Finnish Transfluent aimed for a little under 600 000 euros in its Invesdor crowdfunding campaign, yet closed the round with almost 770 000 euros in its pocket.
The crowdfunding round began in the end of March and finished on the last day of May. Transfluent isn’t publicly traded, so taking part in the crowdfunding campaign was a rare opportunity to purchase shares.
According to founder Jani Penttinen, the company could’ve taken the traditional route and look for venture capital financing, but his vision for the company is to make it “everyone’s favourite translation company”.
“An important step towards that goal was to give everyone a chance to become a shareholder,” Penttinen notes.
The founder also tells that the investment round was historical, as although the company now has plenty of new shareholders, about 40 per cent of the investment was made by two institutional funds, Vision+ and Avera. The organiser of the round, Invesdor, has told Transfluent that this the first time in its history that VC funds have allowed the general public to invest alongside with them, on the same terms.
With the new funding and expanded ownership, Transfluent plans to implement its plans that aim to “take the translation industry to the next level”. Recently, the company announced its intention to open an office in Tokyo.
Good News from Finland spoke to Transfluent in 2015. Read our feature here.