Useme S.A., a leader in remote work billing in Central Europe, has launched a share issue under equity crowdfunding. The company aims to raise $640,000 (PLN 2.5 million) for international expansion and technology development. By the end of 2023, Useme S.A. is considering a debut on the stock exchange.
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Useme S.A. has launched a share issue through equity crowdfunding
Useme’s campaign is promoted by the Crowdway platform. Subscriptions for shares started on Wednesday at 9:00 am.
The fintech company, which for nearly 8 years has offered Useme.com, Central Europe’s most popular platform for easy settlement of remote work between freelancers and contractors, plans to raise a total of $640,000 (PLN 2.5 million). $380,000 (PLN 1.5 million) will be spent on foreign expansion, and PLN 1 million on technological investments, including automation of settlements.
“Useme’s foreign expansion strategy was preceded by market research, team training and test marketing campaigns. We are well prepared to scale the business. By 2025, we want to increase the share of revenues from abroad from the current approx. 20 to 50% of all company revenues. We are primarily interested in the markets of Ukraine, Romania, Russia, and the Balkan countries. At the same time, we will intensify our sales activities aimed at winning customers from Western European markets,” said Przemysław Głośny, CEO of Useme S.A.
The funds raised by crowdfunding will also be used to expand the IT team and implement new solutions. The first direction will be the automation of contract settlements, which will accelerate their service without increasing employment. In 2022, the company wants to enable settlements in cryptocurrencies.
“As a technology company, we are constantly developing our platform. In 2020-21, we completely rebuilt it, actually writing it from scratch. We completely changed the layout of the service, user paths, visual identification. As a result, in spring 2021 we debuted the platform, which is ready for further development. Taking into account the convenience of users and security of transactions, we will introduce top-class fintech solutions,” added Przemysław Głośny.
In the first half of 2021, Useme S.A. generated $6.36 million (PLN 25 million) of revenue, with a dynamics of +86% compared to the same period of 2020. Forecasts assume that by the end of this year, the company’s net revenue will exceed $13.7 million (PLN 54 million), in 2022 it will be nearly $22.6 million (PLN 89 million), and in 2023 – over $40 million (PLN 157 million). The Useme.com platform has a total of over 150 000 registered users, of which over 60% are active users of the service.
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First published in Comparic, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
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