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Shipitwise eyeing further EUR 100,000 via Funderbeam

BC, Tallinn, 14.10.2016.Print version
The Estonian logistics startup Shipitwise has opened a new investment syndicate on the Funderbeam platform aimed to raise 100,000 euros to further its goal of building a global company covering most of the regions in the world, writes LETA/BNS.

he value of the non-binding offers made by investors so far is 19,000 euros.

Shipitwise says it will use the money to test and evaluate over 150 additional logistics companies across the world, focusing on Austria, Germany, Russia, the UK and the U.S.A.; build a pipeline of 500 B2B customers in the furniture, manufacturing and travel industry; ship 2,000 packages in total from Estonia, Germany, the U.K. and the U.S.A.; and launch its own Application Programming Interface (API) that can be implemented within e-commerce and other platforms.


Shipitwise aims to reach revenue of 200,000 euros by the end of 2016.


The company has 22 days left to reach its goal.


Funderbeam is a primary and secondary market for early-stage startup investments where investors can pool their money across borders to help startups raise capital.


Founded in June 2013 by Estonians Kaidi Ruusalepp, Urmas Peiker and Villu Arak, Funderbeam has raised 1.75 million euros from Estonian and British angel investors. Investors in the company include Skype co-founder Jaan Tallinn, as well as the British investment company Rockspring.






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