Symbid and FEET supply secured online refunding for equity-based crowdfunding
07 JUNE 2012, UTRECHT
SummarySymbid, the equity-based crowdfunding platform from The Netherlands, has finalised a system upgrade using FEET´s banking software, making crowdfunding even more safe, secured and placing it under direct supervision of the European financial authorities!
07-06-2012 Utrecht, The Netherlands - Symbid and FEET are cooperating to further secure online crowdfunding payments. As of now it is possible to immediately refund money from the Symbid platform back to an investor's bank account. Investors who've uploaded money to their portfolio to invest it in promising business ideas, now can not only retract shares they've invested in a business idea, but can also refund the money that the shares are worth. Due to legal restriction and a financial license requirement, this was not possible before.
FEET, First European E-money Trust, a Dutch financial institution, is specialised in providing payment services and issuing electronic money. To provide these services, FEET complies to all the European legislative requirements and is a licensed ‘Electronic Money Institution’ under supervision of the Dutch Central Bank (DNB) and the Authority of Financial Markets (AFM). The cooperation between FEET and Symbid ensures safe and secure investments, raising the crowdfunding's industry standards for dependable e-money transactions. It also shows that Crowdsourcing.org's Crowdfunding Accreditation for Platform Standards, or CAPS, which tests a crowdfunding platform on a number of variables amongst which safety, is well earned.
Willem Mosterd, CEO of FEET, welcomes the partnership with Symbid. ‘Crowdfunding is an important new financial mechanism that complements today’s social networking economy. Our partnership with Symbid has now resulted in a crowdfunding platform that sets the standard for the industry and protects especially the interest of the investors: they are in control of their own money until the investment transaction occurs. This assurance will remove an important entry barrier for potential investors and will contribute to the further growth of crowdfunding in general. This solution reaffirms again Symbid’s leading position in the market and we expect that the market will soon follow their example’.
Korstiaan Zandvliet, CEO of Symbid, is thrilled with the collaboration and new functionality. “Albeit the crowdfunding market is gaining more traction than ever, it is still a young and emerging industry. It is therefore not a surprise that many platforms lack sufficient governance and compliance regarding the funds entrusted to them by the Crowd. Together with our partner FEET, I'm convinced we have set a whole new standard for Crowdfunding on a European scale. It is therefore not surprising that both Symbid, FEET and all other involved parties are very proud on what we have achieved here in such a short timeframe.”
Frans GunninkPartner - Sharpe Financial Communications. firstname.lastname@example.org
Founded in April 2011 as one of the first investment crowdfunding platforms worldwide, Symbid is The Funding Network™, where companies get funded and grow. As a leading online funding portal for small- and medium-sized enterprises, Symbid gives entrepreneurs direct access to traditional and alternative forms of finance, while offering investors full transparency on the potential risks and returns of their portfolio. Advanced investing, monitoring and data tools ensure companies connecting to The Funding Network™ are financed in the most efficient way possible. Built around cutting-edge technology and expert financial advice, The Funding Network™ by Symbid is the go-to platform for entrepreneurs in search of funding and investors in search of exciting opportunities. As of March 2015, Symbid (www.symbid.com) has successfully funded 70 small businesses for a total capital sum of $7.5 million. With over 40 funding partners already connected – including banks, venture capital, angel investors and 30,000 private (crowdfunding) investors – the total transaction volume of The Funding Network™ in 2015 is estimated at $800 million. Symbid Corp. is a U.S. publicly listed company (OTCQB:SBID). For investor relations, please visit www.symbidcorp.com.