Valuation platform Equidam announced that it has closed EUR225,000 in further seed funding from a syndicate of Dutch angel investors. The group, composed of angels with finance backgrounds as well as experienced startup investors, has brought Equidam’s total funds raised to EUR300k with this round.
Rotterdam based Equidam (interviewed by us a couple of months ago) has developed an online valuation tool that allows entrepreneurs to get an insight into the valuation of their company through answering an extensive questionnaire. Its product has been used by various startups in or around their crowdfunding campaigns (e.g. SellAnApp) as well as by various other smaller firms.
Having served over 1,500 clients with its platform the startup has now raised further cash to expand the functionality of its product as well as to shift the focus to growth and sales.
“We are particularly happy with this round as […] we were able to collect a syndicate of passionate individuals who will actively support our expansion with their expertise, network and resources,” said Gianluca Valentini, co-founder of Equidam.
Investor Kees de Jong (serial entrepreneur from Rotterdam) describes his motivation for participating in the round: “The drive and vision of the founders was the key in making up my mind. They proved to have a compelling story, to know their strengths as well as the potential pitfalls and showed a consistent and thought-through plan to overcome difficulties. I’m glad to give my contribution whenever needed”.
Equidam, during its fundraise process, also received an acquisition offer by crowdfunding platform Symbid. The founders decided to turn down this offer and pursue the funding. Symbid remains a minority investor in Equidam, a position they acquired in the earlier funding of Equidam.
Photo by Pieter van Marion (creative commons via Flickr)