Symbid
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| Type of business | Public |
|---|---|
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Type of site
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Equity crowdfunding platform |
| Available in | Multilingual (4) |
| Traded as | OTCQB: |
| Founded | April 1, 2011 |
| Area served | Eurozone (2011–present) |
| Founder(s) | |
| Industry | Crowdfunding |
| Subsidiaries |
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| Website | symbid.com |
| Users | 30,000 (active, March 2015) |
| Current status | Active |
Symbid (also known as The Funding Network) is an online funding platform providing access to traditional and alternative finance for small and medium-sized enterprises. Headquartered in Rotterdam, Netherlands, Symbid was founded in April 2011 by Dutch entrepreneurs Robin Slakhorst and Korstiaan Zandvliet as one of the first equity crowdfunding platforms worldwide.
In 2007, Symbid's founders Robin Slakhorst and Korstiaan Zandvliet met while studying Entrepreneurship & New Business Venturing MSc at Rotterdam School of Management. They have stated that witnessing classmates fail to start their own businesses post-graduation due to a lack of funding was the main inspiration behind Symbid.
Between 2007 and 2010 Zandvlliet and Slakhorst coordinated a fiscal-legal structure allowing non-accredited investors to invest online in start-ups and small businesses. While a number of crowdfunding platforms began to appear online from 2006 onwards, these were associated with creative projects and rewards or donation-based crowdfunding. Few countries had introduced formal equity crowdfunding legislation at this time. Symbid was founded in April 2011 as one of the first equity crowdfunding platforms worldwide.
Symbid was formally incorporated in Utrecht, the Netherlands, as a cooperative entity () in accordance with Dutch law. A cooperative structure means Symbid is able to complete investment transactions online and store invested capital in a separate third-party (trust) account as an electronically stored monetary value (e-money). As of March 2015, Intersolve, a company operating under license as an electronic money institution and supervised by the De Nederlandsche Bank and the Netherlands Authority for the Financial Markets, was responsible for managing this trust account.
In November 2011, Symbid was granted the Shell LiveWIRE 2011 Audience Award alongside a cash prize after receiving 40% the online vote.
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