Seedrs has entered into a partnership with ING, a major European bank, to launch its equity crowdfunding services in Luxembourg and Belgium. The main purpose of the partnership is to “fast track” services, especially to local businesses willing to use equity crowdfunding services on Seedrs platform. The partnership also aims to raise awareness on equity crowdfunding within the business industries of Belgium and Luxembourg.
This partnership is like a referral system wherein ING will direct those businesses that appear to qualify for equity crowdfunding to Seedrs platform.
This partnership is like a referral system wherein ING will direct those businesses that appear to qualify for equity crowdfunding to Seedrs platform. The referred businesses will have access to an advanced campaign review process on the platform, which they will use to raise the required capital to finance their needs. In addition to Seedrs, ING will also refer businesses, where applicable, to KissKissBankBank, a rewards-based French crowdfunder.
ING will start by explaining to potential fundraisers which platform is most suitable for their business needs, Seedrs or KissKissBankBank. The entrepreneurs will then be allowed to file an application requesting either of the platforms to review their projects. Seedrs has stated it will assess the applications and either approve or reject them in two days’ time. The platform will then help those entrepreneurs whose applications have been approved through the crowdfunding process.
The main concept of this advanced system is to increase the avenues through which small businesses can have access to finance. Several such businesses have been denied financial support because they do not meet the necessary qualifications required by traditional funding methods. This partnership will be very beneficial to startups and it is expected to significantly disrupt the financing industry in the two countries.
The main concept of this advanced system is to increase the avenues through which small businesses can have access to finance.
Seedrs has continued to attract the attention of many big companies and investors across the world. The company’s successful Series A funding, which saw it raising £10M, attracted Neil Woodford, a renowned fund manager, and other stakeholders in the European market. The platform has also announced its plan to get into the US market as a way of increasing its business operations.
Both partners have expressed their excitement about the newly formed union. They believe that they will succeed in helping small businesses in Belgium and Luxemburg take advantage of crowdfunding and take their businesses to the next level.