2018 Looks To Be Record-Breaking For Nordic Crowdfunding

2018 Looks To Be Record-Breaking For Nordic Crowdfunding

 Soundboks had one of the most successful crowdfunding campaigns in recent years. Photo: PR, Soundboks  

Soundboks had one of the most successful crowdfunding campaigns in recent years. Photo: PR, Soundboks  

2018 is set to be a record-breaking year for Nordic startups looking to scale up using crowdfunding. Zooming in on data from the last few years, we see a clear trend of fewer, but bigger, crowdfunding campaigns leading the way for other startups to follow in their footsteps as the Nordic crowdfunding scene looks to break into the global top 10. 

In a recent interview with Head of UK and Europe Indiegogo, Joel Hughes, who also visited TechBBQ last year, he shared that he is very positive about the crowdfunding opportunities for Nordic startups in 2018:

I’m very excited to see what campaigns Nordic entrepreneurs have in store for consumers over the next couple of years. I’m confident that 2018 is going to be one of the strongest years for Nordic startups looking to scale up using crowdfunding.

Based on our current pipeline, I’m expecting transportation and consumer tech to be two of the biggest growth areas. I also expect to see Nordic countries climb in to the top 10 for funds raised globally
Joel Hughes Indiegogo.JPG

Joel Hughes

Head of UK and Europe, Indiegogo

 
 

Fewer campaigns but more capital raised

Looking at the data, we see a very clear trend in Nordic crowdfunding, where larger projects are attracting larger and larger amounts of capital. Interestingly enough, this trend is also seen in early- and later-stage venture capital funding.

Based on data collected from Indiegogo and other publicly available sources. Amount in US$
 

More than $35 million raised in the Nordics 

Since 2010 more than 8,000 startups have raised over $35 million in capital via crowdfunding, more than $25 million of those in the last 2 years alone, and the tech events like Slush, STHLM Tech Fest and TechBBQ also play an important role in this matter.

I’ve seen a significant increase over the last two years in the numbers of Nordic startups launching their campaigns on Indiegogo. Tech events in Denmark and Finland, such as TechBBQ, definitely have helped push and raise the profile of Nordic companies on an international stage.
— Joel Hughes, Indiegogo

Within the last two years in the Nordics, Sweden has the most crowdfunding campaigns, Finland raises the most capital on average while Denmark takes the lead in terms of total capital raised.

 

Some of the biggest Danish crowdfunding campaigns:

 
 
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