The round was the second from Estate Guru to use crowdfunding, following an oversubscribed raise last summer.
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.
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.
“The key focus for the rest of this year will be on securing institutional investors, broadening our technological solutions, and maintaining or exceeding our historical growth pace. We have plans to launch in two new markets, develop an API powered investment app and integrate other market participants in our platform.”
EstateGuru recently launched its operations in Finland and Germany, put in place a capital markets team in Amsterdam, integrated the Lemonway payment service platform and implemented the next phase of automated lead generation.