Funderful gets €150k to suck more cash from graduates

Alumni fundraising management platform Funderful has raised €150,000 in a seed round of funding from Baltic accelerator StartupHighway and two angel investors.

The Riga-based company’s platform is targeted at universities looking to raise funding from their alumni network. The service ultimately aims to turn the institution’s graduates into regular donors.

Launched in 2014 the company counts Oxford and Cambridge colleges, as well as London Business School among its clients.

The new financing will be used to accelerate product development and help the company establish a foothold in the US market.

Startuphighway is an accelerator and early stage investor based in Lithuania’s capital Vilnius.

Funderful previously raised €50,000 in debt financing from London-based investor Imprimatur Capital.

Copyright © 2016 FINTECH GLOBAL

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