Urbanara, the first company to be listed on German crowdfunding platform Bergfürst, has closed its funding round with a total of €3m from around 1,000 private investors. Bergfürst claims this is one of Europe’s largest crowdfunding deals.
Urbanara is a Berlin-based home living e-retailer, providing its customers with discounted prices on items. Urbanara competes with established German companies Strauss Innovation, Butlers, and Depot, along with eCommerce platform Westwing.
From 6 November, Urbanara shares will be listed on the Bergfürst platform and shareholders will be able to trade them freely. The issue price for the shares was set at €10 at the end of the subscription period on 1 November. Benjamin Esser, CEO and founder of Urbanara, said he’s planning on including the new investors in business decisions in the future.
Urbanara will use its liquidity to develop its product. It will also invest in its selection of brands and will improve its auditing process, aiming to provide its customers with greater transparency on how products are sourced.