Friday, July 25, 2014

Target reached: Cantiere Savona successfully closed €380k fund raising on StarsUp's crowdfunding platform

Cantiere Savona, the Sardinia-based innovative solar-power luxury yachts design startup succeeded to raise 100% of the needed funds thanks to the issue of public shares through StarsUp 's innovative equity-crowdfunding platform. 

Livorno, July 24, 2014Cantiere Savona, the innovative shipyard company has completed its capital raising process through StarsUp, the first Italian Equity crowdfunding platform authorized by Consob (Italian Financial Markets Authority). The target sum of €380k, equal to a 20% share of the company, was raised in 170 day, with 44 new investorsm includind two "professional". This is so far the most important fund raising web-campaign of its kind.

"A complete success" - said Matteo Piras, 43, accountant
from Livorno, President and co-founder, along with colleagues Carlo Piras and Alessandro Scutti, of StarsUp Srl an, Equity crowdfunding platform registered as No. 1 in the CONSOB registry - "
considering the geographical origin of investors, the amplitude of their age group and the different amounts invested. We witnessed an amazing event and we showed that a healthy financial revolution is to begin. Yes, we can! The fact that this happens in Italy, putting the country at the forefront of innovation, makes us particuparly proud" and adds, "we actually had to turn down investors who, in the past few days, asked to join the project after the required funding had been reached: unfortunately we couldn't allow it, but this scenario is part of the rules that we have set forth ourselves. I hope they will find some interesting project among the ones that are still ongoing".
Great satisfaction also for Andrea Columbu Savona, 40, foundes of the shipyard company: "When we enbarked on this boat we were focused exclusively on the monetaty value of the crowdfunding but in recent months we have lived an experience that goes far beyond the financial result. Thanks to StarsUp, our project has gained visibility in nearly one hundred countries in the world and more than 10,000 users have taken an interest in our business proposal. We got in touch with hundreds of people and we received compliments and encouragement. This has been an experience that I will never forget. I want to publicly thank all those who have believed in us, and promise them that we will do everything to repay their trust."

The entrepreneur Luca Mambrini, 47, from Cagliari, is a new member of Cantiere Savona who was, two years ago, at the centre of one of the most important financial transactions that ever took place in Sardinia. He sold the family company, operating int the valve oil field, to a British multinational corporation listed on the LSE, on behalf of which he continues to manage it. "We think that Luca's experience - says Columbu - and his valuable network of international contacts will make a significant contribution to the growth of the shipyard company and could be very useful if an opportunity presented itself in M&A with the big names in the industry."

Another major achievement by Savona was the closing of raise-funding with SIMEC Spa, a subsidiary of industiral Alberto Cellino, as a professional investor. The Cellino Group operates in the cereals sector and is one of the most important producers of pasta in Italy. With a turnover of €111M and €81.5M of operating assets in 2013, according to CONSOB regulation Simec is entitled to represent on of the "progessional investors" whose reserved quota  has to be at least 5% of the capital. In this regard Cantiere Savona had alread enrolled D-namic Srl, a certified incubator in Brescia, managed by Alessandro Scozzesi.
Satisfaction was reached all the way to the Banco Popolare. Andrea Mencarini, Head of Retail Banking at Banco Popolare SpA, comments, "This is a mere validation, although a welcome one, for us: our intuition from months ago is providing to be correct. StarsUp has gives us a tool with enormous potential that can work in fully synergy with banking operations in order to jump-start development. Let's not forget that the Banco Popolare has been the first bank in the country to open the doors to equity crowdfunding, and therefore we continue to look very carefully at its evolution, with the aim of providing specific financial products to both our clients and the companies that the Web deemed credible".