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Friday, 26.04.2024, 22:20
Nordicban marketplace to bring together business angels from Nordic, Baltic countries
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Estban, the Estonian network of business angels, said the creation of the new network has an effect first and foremost on the startups and investors active in the region by significantly expanding the opportunities available to them.
Where so far the people heading startups in Estonia have had to raise money in places like the UK or Silicon Valley, the marketplace established on Tuesday enables to raise major investments also in the countries situated on the Baltic Sea.
Nordicban has an estimated investment capacity of 650 million euros, more than half of which is estimated input by Swedish and Danish investors.
Heidi Kakko, manager of Estban, said that while the possibility to seek funding in Silicon Valley remains for Estonian startups, in addition to a bigger capital offer there's tighter competition among startups for funding in Silicon Valley and home field advantage often is crucial for a business in the early startup phase.
Members of Estban invested altogether 4.8 million euros in 2014.
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