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SeedBlink eyes further European expansion after success in CEE
Launched shortly before the COVID-19 pandemic, SeedBlink addresses a critical gap in the Central and Eastern European (CEE) market.
Launched shortly before the COVID-19 pandemic, Seedblink addresses a critical gap in the Central and Eastern European (CEE) market, where countries like Romania and Bulgaria lacked significant funding platforms for startups. This gap, coupled with the European Union's push for pan-European crowdfunding regulation, inspired the creation of SeedBlink.
"We saw an opportunity to create the first crowdfunding platform in CEE, filling a gap in the market," co-founder and CEO Carmen Sebe said in an interview with bne IntelliNews. “Previously, crowdfunding platforms were regulated only within their respective countries, which was an impediment to getting other investors for startups … We decided to create a single pan-European platform."
SeedBlink's founding team brought a wealth of experience to the table, with expertise spanning startup development, technology and finance. Sebe’s background is in the tech sector, where she previously led Gecad ePayments and Avangate to successful exits. Fellow founder and chairman of the board Radu Georgescu is also a tech veteran with decades of experience in founding and developing companies. However, president of the board of directors Andrei Dudoiu and Ionuț Patrahau, in charge of corporate development, both come from a banking background.
This combination enabled the founding team to focus on finance for technology companies. "What we did that was different is we focussed only on technology companies," Sebe explained. “We know how to do tech, so decided to work with tech companies.”
The company's pan-European vision began with a local focus. SeedBlink initially worked primarily with companies in Romania, before opening an office in neighbouring Bulgaria. The team then acquired a small Dutch crowdfunding company, one of the oldest in Europe but struggling, and set about to modernise it and extend SeedBlink's reach into Western Europe. Offices in Austria followed, with plans to expand further into Germany and France, despite the current uncertain economic climate.
“We started with this growth in mind, but to get traction we started in Romania," said Sebe. "Our focus remains on CEE, where there's a lot of business to be done. The cultural differences [in CEE] are not as pronounced as in Western Europe, making it easier for us to grow our presence, and at this point we are recognised as the biggest platform in this area.”
SeedBlink positions itself as an enabler for startups, particularly in collaboration with venture capitalists (VCs). The platform has attracted companies that already have VC backing, allowing it to offer investment opportunities that are vetted and deemed promising.
In several larger funding rounds, companies have raised funds from Seedblink alongside VCs. They include some of the high-profile startups to come out of the region. A recent major funding round raised €5mn for .lumen from a combination of Seedblink and VCs to support the development of its ‘glasses for the blind’ created using autonomous driving technology to replicate the main features of a guide dog. .lumen raised €1mn in a single day — a record for Seedblink.
Last year, Bulgaria-based cargo drone airline Dronamics also tapped Seedblink’s community of investors in a €2mn funding round, in its second foray on the platform. For Flowix.ai, a New York headquartered tech company with an engineering team in Romania, SeedBlink participated alongside VCs and other investors in a $9mn seed round led by Dawn Capital.
“We have some very big names that got more than €1mn from our platform,” pointed out Sebe, adding that another fundraising on a similar scale is expected within the next month.
Meanwhile, recognising the demand for smaller, early-stage investments, SeedBlink has also introduced a new business line to provide seed and pre-seed funding.
"We realised investors want also to get in smaller types of companies — seed and pre-seed — so we also opened a new line," Sebe said. "We're part of an ecosystem working with VCs, angel investors, high net worth individuals and family offices … we are in the market and we know we are well regarded in the VC ecosystem. They work with us when they want to fill up a round, which is great.”
As SeedBlink has grown, it has diversified its offerings, including with the launch of a pilot for secondary offerings. At present, however, Sebe says the secondary market is not a primary focus for SeedBlink in the near term. "We're exploring the appetite for secondary markets among our investors, but it's not something we're pushing strategically right now," she said.
SeedBlink's investor base is diverse, with 60% of its investors coming from outside Romania. Half of these foreign investors are based in the Netherlands, with others in Bulgaria, Austria, and beyond. The platform has also played a significant role in educating new investors across the region, many of whom are making their first foray into startup investments.
“Something very important for a company, but also very difficult, is to find money to grow," Sebe said. "If you don't have funding, you can't grow, and if you can't grow, you die.” Securing VC funding can be difficult especially in the CEE region, where major VCs select only a handful of companies each year.
“We have 10-12 opportunities on our platform on a monthly basis, and they are all selected by us. So for the companies we are very important.”
On top of creating the platform to secure funding, Seedblink also offers infrastructure to facilitate the fundraising process, allowing entrepreneurs to focus on their core business.
Looking ahead, Sebe envisions SeedBlink as more than just a crowdfunding platform. She sees it evolving into a comprehensive tool for startups. The platform aims to support companies from pre-seed to Series B, providing the infrastructure needed for growth at every stage.
"We want to be a European platform that offers companies more instruments for getting funding, and also management tools," Sebe said. "We’re well recognised in CEE, and our goal is to continue moving forward in the Western part of Europe, while continuing the education in this part of the world."
As SeedBlink continues its expansion, it offers tech startups in Romania and the broader CEE region a lifeline in a region where traditional funding sources are scarce. With plans to expand its footprint across Europe, SeedBlink is poised to become a major player in the global crowdfunding landscape.
PublishedAugust 26, 2024
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Tudor Goicea
Co-founder of Aqurate
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As a startup founder, I am happy to witness SeedBlink’s dedication to expanding their support for early-stage companies beyond funding, towards a healthy equity management via Nimity. A solution to help better navigate relations with stakeholders, employees and future investors is needed in Europe. Less admin work and bringing transparency to the cap table are immediate benefits I was able to test.
Delia Iliasa
Managing Partner
SanoPass
SeedBlink is a transparent solution that connects entrepreneurs with great business plans, with investors, at different stages in their development. It is a great tool for us, a democratization of access to funding, I would say.
Ioan Iacob
Founder
FLOWX.AI
We really loved the SeedBlink journey. We reached our fundraising goal within hours of launching. About 100 investors joined our vision and invested almost $2 million in FLOWX.AI through the Private Deal Room. At the same time, working with SeedBlink to prepare for the funding round was an excellent exercise for our entire team, and we received and felt the support from the SeedBlink team members who took on an advisory role.
Dan Vidrașcu
CEO
VOXA
SeedBlink made the (investment) process run smoothly. We appreciate all the support SeedBlink's professional team has provided.
Tinu Bosinceanu
Founder and CEO
Upgrade Education
It's important to look for and choose a platform that you resonate with, that shares your mission with, a platform & its people with which you feel you can have good working relationships. we got an excellent relationship going forward; we talked a lot and we were in touch on a lot of matters and I think this was important. Having people who believe in your idea is of great help.
Kimmo Rytkönen
Founder and CEO
Income
Running the financing round was like any other fundraising; we had to be active in our community as well as in SeedBlink's investor community. After the launch, everything happened very quickly, and SeedBlink organized several pitch events for investors, which we found very useful for the round momentum.
Svilen Rangelov
Founder and CEO
Dronamics
We immediately clicked with the SeedBlink team as their fundraising expertise was immediately obvious and their no-nonsense approach really appealed to us. After all, fundraising is only a means to an end, and we liked how the SeedBlink team was really focusing on supporting us and on getting things done.
Mihai Darzan
Founder
Procesio
Our main expectation has been to raise the amount we were aiming for, and both rounds launched on Seedblink exceeded our targets, so we’re very happy with that! Even though the launched funding campaigns have been purely crowdfunding rounds, we are thrilled to actually receive extra support from some of the investors, who have chosen to get involved and help us generate product awareness, whenever they can.
Catalin Mester
Founder
Voxa
I am recommending SeedBlink without hesitation, to every founder that raises capital, especially early-stage tech startups. SeedBlink is a crowd investment platform that will also provide their startup with visibility, for Angels and VCs.
Dragoș Iliescu
Founder and CEO
Brio
In the early stages, we have been funded by several early (angel) investors, and one and a half year ago through an equity crowdfunding campaign on SeedBlink. Of course, this impacted our growth in many positive ways, partly due to the cash influx that, evidently, was sorely needed, but in a larger part due to the fact that our responsibility towards our shareholders has become more stringent and explicit, becoming embodied in our market approach.
Costin Tudor
Co-founder and CEO
Undelucram
Given the accelerated growth we observed at the end of last year and the beginning of 2021, we want a new capitalization, quickly. This is a bridge round that we will use for one year, and the advantages that SeedBlink offers are the speed at which we were able to list for financing and the experience that we gain as a result of this public listing, similar to a listing on the stock exchange.
Diwaker Singh
Co-Founder & CEO
Crikle
As a platform that only serves technology ventures, SeedBlink can connect the start-up with more than just money. SeedBlink investors are primarily technocrats who understand the objectives of the fundraising company and are also able to post-funding contribute with business opportunities. The minimum investment threshold, and technology focus, differentiates SeedBlink from other fundraising platforms. A perfect fit for a technology start-up seeking intelligent funding.
Florin Stoian
Co-Founder & CEO
Milluu
SeedBlink boosted our brand exposure and facilitated the financial support we were seeking. Having a campaign on the platform allowed us not only to meet a team of professionals - that guided and helped us prepare the necessary materials - but also opened doors for increasing our brand awareness and have discussions with VCs & angel investors we have never reached before. This campaign gave us the encouragement we needed to push the product further, while the record-breaking fundraising (only 2 hours from the launch of the campaign!) was a great confirmation that our product is needed in this market and that we should continue innovating.
Raluca Jianu
CEO & Co-founder
Epic Visits
SeedBlink has created a vital ecosystem for startups at the beginning of their journey by equipping entrepreneurs with expertise, encouraging honest and sometimes uncomfortable but necessary discussions about risks and vulnerabilities through a suite of tools, and facilitating connections with investors who share the founders' vision and can contribute to their success. I have greatly appreciated the constant support of Eric and the entire team at all stages of the campaign. Thank you so much!
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