AAZZUR on BAFA INVEST list that offers investors a 20% cash grant
AAZZUR is one of a select number of start-ups eligible to be listed on a major German government-backed database, that encourages investors to invest in young companies with a promise of a 20% cash return on their original investment.
Germany’s Bundesamt für Wirtschaft und Ausfuhrkontrolle, BAFA or the Federal Office for Economic Affairs and Export Control, runs the INVEST database to match innovative start-ups looking for funding with private investors. Companies selected to be eligible for the programme can promote their certification, further increasing venture funding opportunities.
CFO Martin Damaske said the company was delighted to hear it will now appear on the INVEST database. “Making the INVEST database marks a major achievement for AAZZUR. To receive such prestigious certification after just a year goes to show that our plans to revolutionise banking are on track.”
BAFA’s INVEST – Venture Capital Grant aims to generate greater and more sustainable access to capital for innovative young companies, by encouraging private investors and business angels to provide venture capital funding.
Any investor participating in the INVEST scheme needs to provide a minimum of €10,000 or, if linked to company milestones, at least €10,000 per payment. They then get back 20% of the original issue price as a cash grant, so long as the investment is held for at least three years.
German investors may also receive a lump-sum reimbursement of taxes on profits arising from the sale of the acquired shares. The grant amounts to 25% of the gain on the sale of INVEST shares.
For a company to be eligible to join the programme, it needs to meet strict eligibility criteria including having less than 50 employees; its headquarters in an EU or EEA country, with at least one branch in Germany, and a total annual balance sheet of €10m.
Meanwhile the investor must be an individual domiciled in the EU or the EEA, who is either not affiliated with the company or can acquire shares in it via a GmbH, or limited company.
AAZZUR is a Berlin-based fintech company that is revolutionising banking technology by letting both financial institutions and/or customers aggregate all their personal banking accounts and fintech solutions in one platform. To find out more about how AAZZUR is revolutionising how you manage your money, visit the AAZZUR website.