SOURCE: Symbid


March 25, 2016 12:30 ET

Symbid Corp. Announces Full Year 2015 Results

Financial Technology Brand Reports 28% Increase in Revenue Versus 2014

ROTTERDAM, THE NETHERLANDS and NEW YORK, NY--(Marketwired - Mar 25, 2016) -  Symbid Corp. (OTCQB: SBID)

Key Business Highlights of 2015:

  • Total revenue of $353,076 for fiscal year 2015, up 28% versus 2014, however a 16% decrease in the value of EUR(EUR) versus USD($) in 2015 compared to 2014 means the actual revenue growth in EUR was higher;
  • Company reports continued growth in number of small businesses funded (up 17% versus 2014) and registered investors (up 28% versus 2014);
  • Company launched The Funding Network™ in March 2015, a data-driven capital market for start-ups and small businesses connecting various types of finance, alternative and traditional;
  • In 2015 the total funding volume of The Funding Network™ was $520 million with approximately 60 small businesses funded every week;
  • The Company expanded its product portfolio with the launch of a loan crowdfunding (or peer-to-business lending) product in Q2 2015, from which the first revenues were recorded in that same quarter;
  • In Q4 2015 the Company entered into a media partnership with RTL, a leading European entertainment company, to promote crowdfunding and small business financing on business television. The partnership involved an investment in media value with a view to a future strategic partnership;
  • Several funding rounds were realized in 2015 through the issuance of shares and convertible notes;
  • Further funding rounds and executions of strategic partnerships are sought for 2016 in order to ensure continuity, further growth and international expansion.

"We are pleased to report continued revenue growth in what is a highly competitive global market. These results are a reflection of the increasingly diversified revenue streams available to the Company and our commitment to genuine financial innovation." said Korstiaan Zandvliet, co-founder and CEO of Symbid Corp. "With the launch of The Funding Network last year we grew from an investment crowdfunding platform into a go-to funding marketplace for small businesses. This ensured significant growth in both the number of businesses funded and entrepreneurs registered. Successfully executing upon the funding and business engagements with our strategic partners in 2016 would enable us to consolidate our present activities and accelerate our business expansion in the Netherlands and our European roll-out. As we look ahead to 2016, we intend to again deliver results consistent with our strategic vision of becoming the leading European online funding platform.

Fiscal Years Ended December 31, 2015 and 2014  
    Year Ended
December 31,
    2015     2014  
Net Revenues                
  Crowdfunding   $ 282,155     $ 267,358  
  The Funding Network     47,975       -  
  Other     22,946       8,967  
      353,076       276,325  
Operating expenses                
  Selling general and administrative     1,543,827       2,166,028  
  Professional fees     721,963       776,243  
  Research and development costs     59,930       320,032  
  Depreciation and amortization     145,543       70,517  
  Bad debt expense (recoveries)     36,292       (14,349 )
      2,507,555       3,318,471  
Operating loss     (2,154,479 )     (3,042,146 )
Other income (expenses)                
Fair value adjustment derivative liability - warrants     (7,791 )     291,662  
Interest expenses and amortization of debt discount     (148,509 )     (31,405 )
Government subsidy     -       10,962  
Gain on sale of investment in Gambitious B.V.     11,504          
Losses from equity method investments     -       (47,226 )
Other income and expense     -       (3,641 )
  Total other income (expense)     (144,796 )     220,352  
Net loss     (2,299,275 )     (2,821,794 )

Summary of Full Year 2015 Financial Performance:

  • Total revenue grew by 28% versus 2014 to $353,076;
  • Selling, general and administrative expenses decreased by 29% year on year to $1,543,827 primarily due to a one-time issuance in 2014 of 1.5 million shares at the expense of $645,000 in relation to a strategic alliance with Fortion Holding B.V. (Credion);
  • Research and development costs decreased by 81% year on year to $59,930 due to the Company's investment in 2014 in the development of a cloud-based monitoring product, released in early 2015;
  • Total operating expenses decreased by 24% year on year to $2,507,555;
  • Net losses decreased by 19% year on year to $2,299,275.

2016 Commercial Outlook:

  • A partnership with leading financial advisory firm Credion was incorporated in 2014. The Company intends to intensify this cooperation in 2016;
  • The Company intends to further exploit the possibilities of The Funding Network™, connecting traditional and alternative financing options through the integration of the Company's private deal flow, monitoring and data services in one go-to platform for entrepreneurs and investors;
  • The ongoing release and integration of new products and services are expected to result in increased transaction-based revenues and new monthly recurring revenues, through the growth of the Company's loan crowdfunding product and the monetization of its funding volume respectively;
  • In cooperation with a strategic partner the Company is developing an SME debt fund with a view to strengthening the Company's loan crowdfunding product offering and anticipates a launch in Q3 of 2016;
  • The Company is actively pursuing a capital raise strategy in order to accelerate the horizontal and vertical expansion of its funding platform and balance cash flow. 2015 saw the Company focus on the internal development of technology thereby creating long-term value through successful innovation. The Company intends to introduce more products from this financial technology portfolio to market in 2016.

This press release is for information purposes only and is not intended to constitute, and should not be construed as, an offer to sell or a solicitation of any offer to buy securities of Symbid Corp. (the "Company") in the United States, Australia, Canada or Japan or in any other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of such jurisdiction.

About Symbid Corp.
Founded in April 2011 as one of the first investment crowdfunding platforms worldwide, Symbid is The Funding Network™, where companies get funded and grow. As a leading online funding portal for small- and medium-sized enterprises, Symbid gives entrepreneurs direct access to traditional and alternative forms of finance, while offering investors full transparency on the potential risks and returns of their portfolio. Advanced investing, monitoring and data tools ensure companies connecting to The Funding Network™ are financed in the most efficient way possible. Built around cutting-edge technology and expert financial advice, The Funding Network™ by Symbid is the go-to platform for entrepreneurs in search of funding and investors in search of exciting opportunities. In 2015, Symbid ( successfully delivered $520 million in funding to approximately 2400 small businesses from over 50 connected funding partners including banks, venture capital firms, angel investors and 37,000 private (crowdfunding) investors. Symbid Corp. is a U.S. publicly listed company (OTCQB: SBID). For investor relations, please visit

Safe Harbor Statement
This release may include predictions, estimates or other information that might be considered "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. While these forward-looking statements represent our current judgement on what the future holds, they are subject to risks and uncertainties that could cause actual results to differ materially. You are cautioned not to place undue reliance on these forward-looking statements, which reflect our opinions only as of the date of this release. Please keep in mind that we are not obligating ourselves to revise or publicly release the results of any revision to these forward-looking statements in light of new information or future events. The predictions discussed in this release are based on the personal opinions of certain individuals and are supported by a consensus within the crowdfunding industry and alternative finance world generally. For a more complete discussion of these predictions and certain risk factors which may affect our future business operations, please review our most recent Form 10-K, particularly under the heading "Risk Factors." PDF copies of these forms can be viewed and downloaded on the Symbid Corp. Investor Relations website at

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