The biggest cross-border syndication since the foundation of EstBAN

16 January, 2014

With help from EstBAN and SoBA, Estonian cloud startup Cloutex has raised $600,000 (€441,000) in seed funding. A group of nine EstBAN members and one SoBA member invested in Cloutex, this being the biggest syndication by the number of participants since the founding of EstBAN. 

The funding was led by lead investors SmartCap and United Partners and followed by business angels. According to Mr. Ivar Siimar, Chairman of the Management Board of EstBAN, Cloutex syndication is an excellent example of EstBAN’s ability to pull together a mix of skilled and competent entrepreneurs and team them up with a high potential start-up. Syndication, especially cross-border syndication, is one of the strategic priorities of EstBAN, added Siimar. As with most Estonian startups that receive a decent funding, Cloutex is pursuing the American dream by opening an office in the United States to go after that American market. The funding will also be used to hire extra staff to assist in connecting more services to their platform. 
The company provides cloud service integrations to synchronize your customers and records across platforms like Pipedrive, Salesforce, FreshBooks, Highrise etc.  Read more:
What is Cloutex? :