More crowdfunding firms approved under new EU rules
Summary
The EU crowdfunding regulator has approved more platforms under the new pan-European crowdfunding rules. The new regulation on European crowdfunding service providers (ECSP) allows P2P and crowdfunding platforms to operate in all 27 EU member states and carry out cross-border transactions.
Under the new rules, a crowdfunding provider must be approved by the relevant authority within the country where it is based. The EU says this has led to discrepancies between regulators, as some have moved faster than others. This disparity led the EU to extend the transition period until November 2023.
The new framework is expected to harmonise crowdfunding across the bloc, to generate more competition and encourage consolidation.
By October last year, four platforms had been authorised under ECSP regulations. They were Lendahand, Crowdcube, CrowdedHero and Villyz.
UK-based Crowdcube was the first EU licence holder, via its Spanish subsidiary Crowdcube Europe. Since obtaining the licence, the company has already expanded into France, the Netherlands, Belgium and Scandinavia, and has funded more than 20 deals under the new permissions.
The full list of ECSP-approved platforms appears below, in alphabetical order:
· Beefordeal (France)
· Crowdcube Europe (Spain)
· CrowdedHero (Latvia)
· Enerfip (France)
· Fellow Funders (Spain)
· Fundeen Platform (Spain)
· Horeca Crowdfunding Nederland (Netherlands)
· Kapitaal Op Maat (Netherlands)
· LendaHand (Netherlands)
· NLInvesteert (Netherlands)
· Oneplanetcrowd (Netherlands) (acquired by Invesdor)
· Spreds (Belgium)
· Seedblink (Romania)
· Villyz (France)
· Wefunder EU (Netherlands)
· ZIB Investments (Netherlands)
Links: https://p2pfinancenews.co.uk/2023/01/25/more-crowdfunding-firms-approved-under-new-eu-rules/