Symbid Secures $1M in Start-Up Loans From Regional Development Fund
Economic Board Utrecht Pledges Over $1M in Growth Capital to Entrepreneurs on Symbid, The Funding Network(TM)
(firmenpresse) - ROTTERDAM, THE NETHERLANDS and NEW YORK, NY -- (Marketwired) -- 03/24/15 -- Symbid Corp. (OTCQB: SBID)
, one of the first investment crowdfunding platforms worldwide and now , today announced a strategic partnership with Economic Board Utrecht (EBU), a Dutch regional economic development group, to support small businesses with over $1 million of funding. The partnership will provide local, sustainable initiatives with loan capital via The Funding Network™ by Symbid. EBU will contribute up to 25% of a start-up's required growth capital while the 30,000 private () investors and 40 institutional investors connected to The Funding Network™ will invest the remaining capital.
"Small businesses are the engines of our economies. It's great to see a major economic organisation like EBU recognize this by committing over $1 million to innovative start-ups via The Funding Network™," said Korstiaan Zandvliet, co-founder and CEO of "This collaboration is really about simplifying the way our small businesses find funding at a time when bank financing is increasingly out of reach. We believe that by connecting alternative and traditional finance with standardized data protocols, The Funding Network™ enables a more efficient and transparent way of doing business. Symbid sees this partnership as another step toward becoming the go-to funding platform for small business."
Small- and medium-sized enterprises (SMEs) are crucial drivers of growth in regional economies but can struggle to obtain finance from traditional sources. A survey by the European Commission found that 39% of Dutch SMEs were rejected for bank financing in 2014, the highest rate in the European Union.(1) SMEs account for 79% of total employment in the Utrecht region of the Netherlands.(2)
EBU's partnership with Symbid encourages high-growth SMEs to seek investment via a more effective capital allocation service, The Funding Network™. Entrepreneurs connecting to The Funding Network™ can access all types of finance, traditional and alternative, through a standardized deal format. This partnership is an endorsement of the new, online model for the financial industry and validates Symbid as the go-to platform for SME funding.
Founded in April 2011 as one of the first investment crowdfunding platforms worldwide, Symbid is , where companies get funded and grow. As a leading online funding portal for small- and medium-sized enterprises, Symbid gives entrepreneurs direct access to traditional and alternative forms of finance, while offering investors full transparency on the potential risks and returns of their portfolio. Advanced investing, monitoring and data tools ensure companies connecting to The Funding Network™ are financed in the most efficient way possible. Built around cutting-edge technology and expert financial advice, The Funding Network™ by Symbid is the go-to platform for entrepreneurs in search of funding and investors in search of exciting opportunities. As of March 2015, Symbid () has successfully funded 70 small businesses for a total capital sum of $7.5 million. With over 40 funding partners already connected -- including banks, venture capital, angel investors and 30,000 private (crowdfunding) investors -- the total transaction volume of The Funding Network™ in 2015 is estimated at $800 million. Symbid Corp. is a U.S. publicly listed company (OTCQB: SBID). For investor relations, please visit .
This release may include predictions, estimates or other information that might be considered "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. While these forward-looking statements represent our current judgement on what the future holds, they are subject to risks and uncertainties that could cause actual results to differ materially. You are cautioned not to place undue reliance on these forward-looking statements, which reflect our opinions only as of the date of this release. Please keep in mind that we are not obligating ourselves to revise or publicly release the results of any revision to these forward-looking statements in light of new information or future events. The predictions discussed in this release are based on the personal opinions of certain individuals and are supported by a consensus within the crowdfunding industry and alternative finance world generally. For a more complete discussion of these predictions and certain risk factors which may affect our future business operations, please review our most recent Form 10-K, particularly under the heading "Risk Factors." PDF copies of these forms can be viewed and downloaded on the Symbid Corp. Investor Relations website at .
(1) European Commission, Survey on the Access to Finance of Enterprises - Analytical Report 2014 (November 2014) [Online: ]
(2) Economic Board Utrecht, Economic Board Utrecht biedt MKB'ers nieuwe financieringsmogelijkheid' [Online: ]
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Frans Gunnink
Sharpe Financial
(+31) 629-541-542
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Datum: 24.03.2015 - 12:40 Uhr
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