April 21, 2015 Invesdor first in Europe to receive an EEA-wide licence to boost cross-border crowdfunding in SME sector
Helsinki-based financial technology company Invesdor has been granted a MiFID licence by the Finnish authorities. Invesdor intends to offer debt and equity crowdfunding services across all 31 EEA countries.
Invesdor is now the first crowdfunding platform to receive this level of operational licence for investment advice, reception and transmission of orders and placing of financial instruments. Invesdor supports European Commission's drive to harmonise financial regulations across Europe.
"Making the fundraising process fair, transparent and standardised for all participants is very important for us" says Invesdor co-founder and CEO Lasse Mäkelä. "We give growth companies an alternative way of fundraising, and with the passportable licence we will be able to scale our business across Europe" he adds.
Global crowdfunding almost tripled last year, becoming a $16 billion industry, and the new licence means that Invesdor will be able to operate freely in Europe, without having to start from scratch in each country, and apply for a new operating licence every time. Startups across Europe can begin to apply for funding on the platform once the country-specific notifications are in place.
Opening the Invesdor service to a new EEA country requires a country-specific notification where, among other things, verification process of the target company identity is described.
Even before receiving the new pan-European operating licence, Invesdor had established itself as one of the Nordic region's most innovative, secure and transparent equity crowdfunding platforms, holding a 46% market share in the Nordic region, based on a recent report by the University of Cambridge and E&Y. Invesdor intends to become the largest cross-border funding platform for new ventures in Europe.
"Through Invesdor, people become part of great stories and diversify their investment portfolios" explains Tero Weckroth, Chairman of the Board. "We're not only helping tech and software startups achieve their full potential in a wider market, but other companies in the sports, medical, musical, and hospitality and catering industries are also current clients - including a sequel to a little film about Nazis on the dark side of the moon you might have heard of, called 'Iron Sky'" he says.
Invesdor has already raised more than 4.4 million euros for more than 30 successful equity crowdfunding projects. Largest round received more than 780 investors and the most international round received investments from 27 different countries around the world.
To build its crowdfunding platform, Invesdor has raised more than €800,000 through crowdfunding rounds and public grants. Invesdor's next equity offering opens on May 5th at noon EEST. The goal of the offering will be to raise capital for international growth.
Lasse Mäkelä, CEO
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