Symbid Corporation (OTCQB: SBID) owns and operates an online funding portal for small- and medium-sized businesses. Founded in 2011, the company established a strategic advantage as one of the first investment crowdfunding platforms in the world. In March, Symbid increased upon its presence in the crowdfunding market through the launch of The Funding Network™. Built around cutting-edge technology and expert financial advice, The Funding Network by Symbid is the go-to platform for entrepreneurs and investors – including banks, venture capitalists, angel investors and over 30,000 private investors – in search of exciting business opportunities. As one of the first European platforms to offer both equity-based and reward- and donation-based funding options, Symbid’s network gives businesses the versatility required to receive financing in the most efficient way possible.
In recent years, the global crowdfunding market has experienced accelerated growth resulting from significant media coverage. In 2014, crowdfunding accounted for an estimated $16.2 billion in raised capital, realizing a 167 percent increase over the previous year, according to a report by CrowdSourcing.org. In 2015, analysts predict that the industry will continue along its current trajectory, with an estimated $34.4 billion forecast to be raised by the end of this year. With an established presence in the booming industry, Symbid has had great success in capitalizing on this market performance in recent months.
In the second quarter of 2015, Symbid recorded total revenue of $92,370, marking a 28 percent year-over-year increase. In large part, this growth can be attributed to the successful launch of The Funding Network, which has seen a total transactional volume of more than $192 million since its launch earlier this year. Moving forward, the company expects the performance of its recently released platform to result in increased monthly recurring revenue streams.
“[T]he diversified product portfolio of The Funding Network is now taking shape, creating value for investors and entrepreneurs,” Korstiaan Zandvliet, co-founder and chief executive officer of Symbid, stated in a news release. “This has resulted in new monthly recurring revenue streams that we expect to increase as we further integrate our products.”
Through the continued diversification of its product portfolio, Symbid is in a favorable strategic position to increase its market share in the thriving European crowdfunding industry. Look for the company to continue building on the solid foundation provided by its recent financial performance as it progresses toward its overarching goal of becoming the leading European online funding platform in 2016.
For more information, visit www.symbid.com
