ZAGREB (Croatia), October 4 (SeeNews) - The Zagreb Stock Exchange (ZSE) and Estonia's Funderbeam Ventures OU have launched a procedure to open their joint limited liability company Funderbeam South-East Europe by the end of the year, Croatian media reported on Tuesday. ZSE said last month it intends to establish a company jointly with Funderbeam Ventures to provide cross-border services to investors and startups. The new company is expected to draw the attention of startups from Croatia, Slovenia, Serbia, and other countries in the region, news portal Poslovni.hr quoted ZSE CEO Ivana Gazic as saying. Funderbeam was created a year ago. Behind the platform, which allows trading stock in startups based on blockchain technology, stands Skype co-founder Jaan Tallinn. The platform has already attracted start-ups and investors from the UK, Germany, Finland and other European countries, Gazic said. In order to use Funderbeam's services, startups will need to have a leading investor, a sort of mentor and negotiator familiar with financial market operations. The share capital of the joint company will be 20,000 kuna ($3,000/2,700 euro), with the ZSE holding a 20% stake, ZSE said last month. The project is part of ZSE's long-term strategy to support companies in all stages of their development. (1 euro=7.51786 Croatian kuna)
Funderbeam, which launched an innovative investment and trading platform for early-stage start-ups earlier this year, has announced plans to form a joint venture with the Zagreb Stock Exchange (ZSE). The new company will provide cross-border service for start-ups and investors in Croatia and other countries in the region. Blockchain-based Funderbeam, which was co-founded by Jaan Tallinn, also a co-founder of Skype, aims to make trading more secure, efficient and transparent. The platform, which also maintains an extensive data platform with information on more than 150,000 start-ups, is attracting interest from start-ups and investors from the Finland, Germany, UK and other European countries according to ZSE CEO Ivana Gazic.