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Zagreb bourse raises stake in Funderbeam South-East Europe

Author Iskra Pavlova
Zagreb bourse raises stake in Funderbeam South-East Europe Author: Zagreb bourse. License: All rights reserved.

ZAGREB (Croatia), July 7 (SeeNews) - The Zagreb Stock Exchange (ZSE) said on Tuesday it has raised to 30% from 20% its stake in local company Funderbeam South-East Europe.

"The fee for the sale and transfer of business shares amounts to 24,400 kuna [$3,700/2,230 euro]," the ZSE said in a statement, without providing further financial details.

Zagreb-based Funderbeam South-East Europe was established in 2016 as a 20/80 joint venture company by the ZSE and Estonia's Funderbeam Ventures OU to provide cross-border services to investors and startups.

The purchase of additional shares in Funderbeam South-East Europe on the part of ZSE is in line with the founding agreement and the initial intentions of the founders to create an alternative platform for the financing of startups and small and medium enterprises, the ZSE added.

ZSE also said that it for the time being it does not intend to further raise its holdings in the company, nor is it obliged to do so.

Funderbeam Ventures OU was created in 2015 as a platform for trading stock in startups based on blockchain technology.

(1 euro = 7.5465 kuna)

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