Estonia-based LeapIN has closed their fundraising round on Funderbeam, a unique startup marketplace that allows individuals to invest in emerging businesses. Until now, they already raised over €1.3 million for the development of their solution that enables you to start and run a remote business in Estonia without the need to visit the country in person.
“The investment we receive will help us continue growth and access new markets. We’re also building more automation technologies to make the process even easier for our customers to truly run a global business, without paperwork, stress or the pains found elsewhere,” said Erik Mell, the CEO of LeapIN.
LeapIN was launched in 2015, one year after introducing the Estonian e-Residency platform. The company’s goal is to revolutionize the way businesses are founded and run. Their solution empowers digital nomads, freelancers, and global entrepreneurs to do what they do best – run their businesses – and helps them remove all bureaucratical obstacles out of the way.
Even though LeapIN is still a young company, it has already achieved quite a lot. The solutions they offer include registering your cross-border business online, paperless remote administration, setting an international bank account, as well as managing accounting and taxes. The startup has partnered with EU banks and payment service providers to ensure that all services are as safe as possible.
Estonian e-Residency is the cornerstone of LeapIN’s business model. Thanks to this state program, every person in the world can become a digital resident of Estonia. Since this Baltic country is a member of the European Union, becoming an e-resident effectively allows your business to enter a market with over 510 million EU citizens.
“Currently, our target customers are only the e-residents of Estonia, although, in the long-run, we are not limiting ourselves to the Estonian e-residency. However, Estonia is the first country, to accept foreign citizens as e-residents and give them the opportunity to remotely start and run a reputable business entity in Europe,” Mell said. “Our challenge is not only to design our own service, but also to improve the legal framework in cooperation with the public sector and other players from the private sector,” he added.