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Milan van den Bovenkamp team 3
Milan van den Bovenkamp ,

No longer in business - SellanApp - Third Seed Round

A crowd funding platform that makes it possible for everyone to have their App Ideas developed, published and profitable.

$126.106 INVESTED
Minimum target amount
No longer in business - SellanApp - Third Seed Round

Dear fellow cooperative members and followers,

With regret I have to inform you that after this week's extraordinary shareholder meeting the management of SellanApp had to file for bankruptcy. At this meeting it became clear that the financial situation of SellanApp had deteriorated due to a combination of insufficient cash generated and mounting debts.

The management informed the shareholders that continuation of the service was no longer feasible unless an immediate and substantial injection of capital was provided. As none of the existing shareholders was willing to provide this extra capital, it was decided that a filing for bankruptcy was the only option left.

The service of SellanApp wil therefore be suspended, and the responsibilities handed over to an executor. For over 12 months now, SellanApp has been seeking additional finance to secure and grow its operation. This, including the last campaign on Symbid targeted to raise EUR 150.000 in thee stages, proved unsuccessful. As the increasing operating losses could not be covered by additional financing, SellanApp was now forced to suspend its service.

The management of SellanApp will work together with the executor to minimize the (financial) damages for all parties involved.

As chair of both the SellanApp Cooperative U.A. and SellanApp Cooperative 2 U.A. I will keep you informed about this process. As all will be handed over to the executor, I will not be able to answer any further questions at this point.

As soon as the contact details of the executor are known, I will forward these to you so that any questions or claims can be directed to him.

Again I'm very sorry that I have to communicate this message to you.

Best Regards,

Freek Bodemeijer


On behalf of Symbid

Symbid is very sorry to hear that SellanApp was forced to discontinue its services despite all the hard work of all the people of SellanApp to make this company a success. Symbid very much regrets that this happened. SellanApp has filed for bankruptcy.

This is the first time a company funded by Symbid crowdfunding discontinues its services. Approximately half of the capital that was invested in two SellanApp crowdfunding campaigns at the Symbid platform has been invested by SellanApp's own network (Friends, family), while the rest has been invested by the Symbid network.


  • Consumers & SMB’s have great ideas for mobile apps, but can’t afford to pay app developers or to become one.

  • App Developers are running out of ideas but are unwilling to work with consumers as contractors.

  • No easy way exists to connect app ideas of consumers with developers such that these ideas become successful apps.



A platform where App Ideas meet developers and their future users.

Many individuals or companies with ideas for mobile applications (apps), do not have the resources (funds, knowledge, market access) to transform these ideas into real apps.

SellanApp makes it possible for all these ideas to become reality. Using an innovative crowd-funding model, SellanApp connects the creative community with developers worldwide, whereby the community of future users fund the development.

In short, with SellanApp everybody can transform their app ideas into a revenue generating app in the App Store.

The community pledges funds towards the development of a certain App Idea (crowd-funding). In return, the author of the App Idea (producer) offers pledgers a share in the App’s revenue or specific rewards like ‘in app presence’. During the funding period the amount pledged grows.

Within this period any of the connected developers (all contract partners of SellanApp) can select an App Idea for development against the total amount pledged at that time, effectively creating an auction between the creative and the development communities worldwide, whereby future users of the apps participate actively. The crowd-funding is-all or nothing-, with pledgers only being charged if a developer actually selects the app for development. 

After several steps, the newly developed app will be submitted to the Apple App Store by SellanApp. Revenue generated will then be forwarded by SellanApp to the producer and the pledgers (pro-rata their pledge).

We enable the producer to shape their idea and present it to the community and developers, by offering an advanced iPad App. Anybody can use it to easily create a playable mockup that can be uploaded simply and shared on our web platform. 

Our Pitch Deck is available in the attachments section.

Our intended audience is the global market of Apple iOS application users and developers (iPhone, iPad, iPod touch). This market has over 400 million users, and over 184.000 registered developers. Over 300 apps are downloaded per second with an average purchase price of $2.00. These numbers are expected to increase exponentially over the next few years.

A key issue within the market is the volume and discoverability of apps - in that there are so many apps, it is difficult for a developer to gain traction through being discovered naturally by users. As such, the market is looking for solutions to increase the average quality and visibility of the apps within the App Store. As SellanApp presents a strong community and since we believe it takes a crowd to raise an

App, we are in the position to offer unique solutions in app discovery and marketing.

More and more consumers and businesses are prepared to enter the market, not only as consumer but also as producer and developer. This results in fragmentation resulting in a more complex environment. 

A platform which brings together producers, developers and consumers provides added value in this market.

SellanApp has proved that there is a (substantial) creative potential within businesses and consumers not having the resources to develop successful apps themselves. They crave to create a community which helps them to realize their potential.


SellanApp realized the availability of an iPad App and web platform including the associated technical, legal and, development and organizational infrastructure. The team, led and formed by a very experienced CEO/entrepreneur, is international and includes over a decade of experience in high end London and US based technology start ups. After a two month private beta period, the service has been in public beta since November 2012.

Since launch, over 100 App Ideas were submitted, Over 20 where published on the site and 13 are now funded and 3 apps already have been made available in the App Store. Over 16 developers are now connected with the platform, while many more have shown interest. This shows ‘proof of concept’ and strong traction from the community.

SellanApp was nominated as ‘one of europe’s best startups’ during a venture capital event last year, and was one of the finalists during a ‘startup-rally’ organized by The Next Web SellanApp was also named one of 10 best Dutch startups in the Accenture Innovations Awards. The iPad app has received high praise from users and has 4.5 stars in the App Store.


SellanApp receives 10% of pledges on all successful (i.e. selected) app ideas and 5% of all revenue generated by the apps in the App Store. Since all funds flow via the accounts of SellanApp there is no debt risk while we have get access to working-capital.


In previous rounds EUR 490,000 has been raised. The last seed round closed at at pre-money valuation of EUR 665K.


The issue of shares will be based on a pre-money valuation of EUR 2,471,408 or EUR 8 per share. Please find a report supporting this valuation in the financials section. Further details including a cap-table is presented in the Investment Memorandum.

Note that the post-money valuation of EUR 2,971,408 is based on a EUR 500K investment, or the total of equity we hope to raise on both and


The proceeds will be utilized for:

  • Continued development of both the web-platform and iPad App (execution of the road-map);

  • Growth of the Team to handle demand;

  • Investments in (online) marketing activities;

  • Going concern for the current validation and next efficiency phase



Due to it’s confidential nature we cannot disclose our complete our roadmap publicly. However we foresee:

  • Rollout of a novel referral program;

  • The ability to showcase and use fully playable prototypes of App Ideas on the web;

  • Implementation of an advanced dashboard serving the communication between the producer and developer;

  • The possibility to view app ideas directly on our iPad App and to pledge on them;

  • The possibility to access and update App Store data from the iPad App;

  • Upgrades in the overall user experience and style of both the web and iPad platform;

  • More....


Combined this will create a whole new ecosystem for the (co) creation, promotion, funding of and monetizing on mobile apps.


The Company (a Dutch limited company or 'BV') has a US based administrative (Delaware) LLC founded specifically for access to specific online payment services available in the USA, and as a footprint to accommodate foreign investments. SellanApp is structured largely according as a modern US based startup issuing common shares and prefs with commonly used protections and preferences for investors.

As we want to ‘practice what we preach’, we successfully closed the first financing round using equity crowd-funding via Symbid (the Netherlands) with 260 investors participating. These investors are all member of SellanApp Cooperative U.A. which holds shares directly in SellanApp BV.

SellanApp has a very experienced CEO who is also founder of the company. There are three more people working for SellanApp, a creative/community manager (CCM), COO and a designer. SellanApp cooperates with development teams in the Ukraine (web-platform) and France (iPad App).


As we want to ‘practice what we preach’, we successfully closed the first financing round using equity crowd-funding via Symbid (the Netherlands) with 260 investors participating worldwide.

We now seek EUR 500K using and as equity crowd-funding platforms to address a new community. For this, we set a target of EUR 400K on and EUR 100K on

Although we use two platforms, this is a single campaign!

During the campaign you can use both and to invest in however:


  • Please use if you want to invest any amount between EUR 20 to EUR 10,000K;

  • Please use if you want invest EUR 10,000 or more. 


As we did in our first round, we recognize two types of investors in this crowd-funding round:

  • Participants investing EUR 50,000 or more will be shareholders of SellanApp BV (the Netherlands) (direct shareholders);

  • Participants investing less will be made a member of “SellanApp Cooperative U.A” to they can jointly represent their interests (indirect shareholders). This solely for the practical purpose of avoiding having to deal with hundreds of individual shareholders at this stage.


SellanApp Cooperative U.A. is a direct shareholder of SellanApp BV holding the same type of preferred shares as held by direct investors.