Skand opens round, reaches minimum target in two days

Company News | Skand | 02.03.2021

Skand is aiming for a maximum €1M funding with their share issue, set to close by 23 March.

The Finnish e-scooter company Skand took just approximately 30 hours in the public phase to reach their initial €300,000 target.

Their share issue was opened for all investors on the morning of Tuesday, 23 February. By Thursday afternoon, the round had passed 100% of its minimum funding limit. The news was also covered by Artic Startup.

From powering paper machines to e-mobility 

Skand operates in the business of light electric vehicles, i.e. e-scooters. The company started in 2012 under the name Advantage Engineering Oy and at that point was still in the business of electrics wiring design for paper machines.

Since 2015, they've been focused on consumer business in the form of electric scooters and mopeds. Skand tells they have so far sold more than 5,000 light electric vehicles in the Nordics: the company entered the Swedish market in 2017 and currently more than 50% of their sales come from there, Skand tells in its pitch material.

Eye on Europe

Skand is now planning to reach for new markets: this year they are looking to launch an EU-wide webstore. In their investment material, Skand lists Denmark, Norway, Germany, France, Poland, Belgium and the Netherlands as new countries they have been looking at.

Skand is looking for a maximum of €1M with their current funding round, set to close by 23 March or earlier if fully subscribed. The equity offered is between 5.66% and 16.66% of the company's shares. You can read more from Skand's pitch page by clicking the button below.

Visit Skand's pitch page

Important notice: All investments carry a risk of losing capital. Of risks related to its business, Skand mentions in its pitch material for example risks in entering new countries and technological special developments. Invest responsibly and always familiarize yourself with the whole investment material before making an investment decision.

Disclaimer

The information contained herein is not meant to be, and it shall not be interpreted as investment advice or a recommendation and investors must neither accept any offer for, nor acquire, any securities unless they do so on the basis of the information contained in the applicable investment material of a target company. Investing in securities of unlisted companies is associated with high risk.

Share this post