The Startup Wise Guys, a Tallinn-based European business-to-business startup accelerator, has started funding the Baltic startup scene through Funderbeam, an Estonian-founded platform where growth companies are funded and traded across borders.
Startup Wise Guys is using a fund of €300,000 to €400,000 to invest in and “accelerate” 10 selected companies that will take part of the next acceleration program in Tallinn in 2017.
An accelerator is a special kind of investment company that doesn’t simply invest money in startups, but “accelerates” them by providing an intensive business training programme with lectures, specialised mentoring sessions, business connections, pitch training, office space and more.
Behind every accelerator, there are investors who choose to invest through the accelerator in order to spread their risk across multiple companies, as well as increase the chance of a successful outcome through the services provided by the accelerator.
“With this partnership, we let the investors on our platform access Startup Wise Guys’ expertise in finding, screening and improving companies, while spreading their investment on the entire batch,” Kaidi Ruusalepp, the CEO of Funderbeam, said in a statement.
The round is open for all investors on Funderbeam from 17 November.