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December 31, 2020

Press release: Funderbeam secures investment firm licence from the Estonian financial regulator

The global funding and trading platform Funderbeam obtains an investment firm licence from the Estonian Financial Supervision Authority (FSA) to continue operations in the European Economic Area (EEA) after Brexit.

The FSA has issued Funderbeam an investment firm licence which is effective as of today.

Funderbeam continues to maintain an active regulatory authorisation in the United Kingdom, where its regulated entity acted as a service provider to the European market up until the end of the Brexit transition period. Companies outside the EEA region will continue to be served either by Funderbeam Markets Ltd (UK) or Funderbeam Markets Pte Ltd (Singapore).

According to the founder and CEO of Funderbeam, Kaidi Ruusalepp, Estonia was the obvious logical choice of regulatory jurisdiction for an innovative fintech with a strong presence in the country. “As most of our present business is in the EEA, we needed an appropriate licence to continue operations in the region following the end of the Brexit transition period. After having analysed several potential jurisdictions, Funderbeam chose to apply for a licence in Estonia, which is known for its digital-focused culture and innovative mindset. Herewith, I express my gratitude to the Estonian Financial Supervision Authority for dealing with our application in the most professional way. The process took the form of a highly constructive dialogue, with an open mindset, matching Estonia’s reputation as a highly progressive digital society,” she said.

Funderbeam serves investors from 134 countries and companies from Europe and Asia. To date, it has traded more than $8M worth of investments on its exchange and exceeded the monthly trading volume of €1M in November. Funderbeam Marketplace offers live and direct auto-match trading, allowing buyers and sellers to interact 24/7, 365 days a year without the need for brokers or other third parties. Trade settlement is revolutionised with a T+10 minutes cycle offered uninterruptedly. Funderbeam Venture Index that reflects assets listed on Marketplace has grown from 1 300 points to 1 884 points or around 45% in the last six months.

Funderbeam was founded in 2013 and is led by Kaidi Ruusalepp, a former CEO of Nasdaq Tallinn Stock Exchange and Central Securities Depository. Funderbeam has offices in London, Singapore, Copenhagen, Tallinn and Zagreb.

If you would like to read the official Press Release of FSA(in Estonian), please click here.

Learn more about Funderbeam here:

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This page provides you with an overview of the services provided by different entities belonging to Funderbeam Group. In this page, we generally refer to the group as “Funderbeam”, “we”, “us” or “our”.

It is important to note that funds are raised, investments are made and trade orders are placed through three service provider entities: Funderbeam Markets AS (FBAS) (authorised and regulated by the Estonian Financial Supervision Authority under permit 4.1-1/212), Funderbeam Markets Limited (FML (authorised and regulated by the UK Financial Conduct Authority under FRN 794918), and (for trade orders only) Funderbeam Markets Pte. Ltd., (FB Pte). FBAS and FML are MIFID investment firms.

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