A good business idea alone is not enough if you want to be a successful entrepreneur. Money also counts. And this usually requires several partners. Depending on your needs, you may find yourself using bank financing, crowdinvesting campaigns, holdings, funding or leasing models. Peter Bosek, CEO of Erste Bank Oesterreich says that ‘finding the right mix of financing methods is a real challenge and extremely time-consuming for many young entrepreneurs and startups. Erste Bank and Conda have taken business financing to a new level with FundNow. The new platform is quick, easy, and offers businesses genuine added value.’
Find your financing mix in five minutes
A good business idea alone is not enough if you want to be a successful entrepreneur. Money also counts. And this usually requires several partners. Depending on your needs, you may find yourself using bank financing, crowdinvesting campaigns, holdings, funding or leasing models. Peter Bosek, CEO of Erste Bank Oesterreich says that ‘finding the right mix of financing methods is a real challenge and extremely time-consuming for many young entrepreneurs and startups. Erste Bank and Conda have taken business financing to a new level with FundNow. The new platform is quick, easy, and offers businesses genuine added value.’
Find your financing mix in five minutes
At www.fundnow.at, users anonymously enter their desired financing amount, supplement this with core business data such as industry, legal form, equity or expected profit, and five minutes later receive their first proposal for a financing mix consisting of bank financing and alternative forms. Interested parties can then create a profile, upload their own company’s business and finance plan, and submit a specific request. A detailed and customised financing quote will be devised free of charge within 48 hours, based on which personal appointments can be arranged with the respective lenders. According to Conda CEO Daniel Horak, ‘this gives businesses greater certainty for their plans. And synergies also form for the financing partners, who are able to network with one another and pool simultaneous tasks such as data recording.’ FundNow’s technical partner is Austrian startup finothek, which specialises in developing customer-focused financing solutions.
A new, dynamic port of call for businesses
“We’re delighted to have found a partner like Conda, which has lots of experience in alternative financing”, says Bosek. Daniel Horak is also confident the new financing platform has set a genuine milestone: “Not only does FundNow make life much easier for businesses, but the co-operation between Erste Bank and Conda also shows that fintechs and banks can break a lot of new ground when working together. Alternative forms of financing help increase companies’ equity so as to then facilitate bank financing. FundNow is a powerful tool that benefits all involved.”
About CONDA
CONDA is Austria’s largest crowdinvesting platform for startups and SMEs. Since its founding in 2013, the company has successfully provided 28 million Euros’ worth of financing for 115 projects. CONDA’s community now comprises more than 30,000 international investors, to whom it offers the opportunity to invest internationally in companies in Austria, Germany, Switzerland, Liechtenstein, Slovenia, Slovakia and Poland. Following a takeover by startup300 AG, CONDA’s founders Daniel Horak and Paul Pöltner continue to run the company as an independent subsidiary of startup300. CONDA AG also provides its technological know-how to other businesses in the form of white-label solutions. CONDA has launched its own security token (STO), and used it to digitise its own company shares. One of the purposes of STOs is to make transactions more transparent and less location-dependent – and CONDA is a pioneer here when it comes to developing crowdinvesting 2.0.
About finothek
finothek GmbH was founded in 2018 by Dejan Jukic and Markus Waghubinger in order to develop customer-focused financing solutions with established partners. As developers of comprehensive platforms, the team has experience in the fields of finance and insurance, as well as profound expertise in software development. One of finothek’s core competencies lies in creating complete financing plans with a view to securing the necessary growth capital for ‘innovation made in Austria’. As part of its strategic partnerships, finothek combines the strengths of startups and established companies, and acts as a startup, business consultant and digitisation partner.
