Estonian-founded platform Funderbeam secures ＄40M round led by VentureWave

London-based funding and trading platform Funderbeam has secured a $40 million investment. The round was led by VentureWave, who also acquired the strategic majority stake in the Estonia-founed company. Co-investors in the round include Mistletoe, Draper Associates, and Kaidi Ruusalepp, the founder of Funderbeam.

• Founded in 2013 by Kaidi Ruusalepp and Urmas Peiker, Funderbeam aimed to solve the liquidity problem of angel and venture investments. The company’s infrastructure is built to help investor networks, accelerators, and other venture investors manage their syndicated investments, post-investment flows, and handle secondary transactions across borders.

“This transaction creates a powerful platform to fast forward Funderbeam’s vision which is to serve venture investments across borders and create a unique secondary market for private assets. The timing of the transaction couldn’t be better – we are strong at a time when the market is ready for our solution,”

Kaidi Ruusalepp, founder and CEO of Funderbeam, says.

• VentureWave, an Irish-based venture private equity group, provided the majority of the funding. The group will take an active and strategic leadership role in scaling Funderbeam’s ground-breaking technology across venture assets.
• Other prominent co-investors included Mistletoe, a Japanese hub for startups and the overall entrepreneurial ecosystem, and Draper Associates, a global venture capital firm for industry transforming companies. Kaidi Ruusalepp, the founder of Funderbeam, also participated in the round.
• Following the transaction, Funderbeam will now additionally serve institutional clients – VC funds, family offices, brokers, and investment banks. The deal is currently pending approval by the regulators in the UK, Singapore, and Estonia.