Crowdfunding platform Eureeca has raised just over $441,000 in its own crowdfund raise, with the round still live.
The initial target for the funding round was $400,000 and so far, there have been 83 backers to the investment.
This investment is reportedly part of the company’s Series A round which is looking to pick up $5m, from institutional investors, according to an article by CrowdfundInsider. The report also states the funding will help Eureeca gain new licenses to move into new markets and once the Series A is complete the company can boost presence in Europe, the Middle East and Southeast Asia.
Eureeca is an institutional crowdfunding platform which helps connect its investor network from casual angel investors to institutional investors to buy shares in businesses and providing the capital to help growth.
Launched in 2013, the company works with businesses to set up campaigns to receive funding from investors and prepare the proposal material.
The crowdfund is active until September 16th.
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