i jornadas de crowdfunding · able to participate in the funds flows through third parties. •...
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About Seedrs
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European Equity CrowdfundingSeedrs is the number 1 equity crowdfunding platform in Europe, and the most active investor in UK private companies. It was also the first regulated equity crowdfunding platform in the world.
4,260Revolut had 50%
of businesses come back to Seedrs
€350Minvested
investors
£4.3MPerkbox raised
Over
600deals funded
Over 68%funding successrate on Seedrs
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51%of ECF rounds
Market share
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Cross Border Equity CrowdfundingEuropean Passport
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Present situation
• Cross-border equity crowdfunding is not straightforward.
• Seedrs is MiFID authorised and regulated as a small AIFM.
• Non-effective cross-border passporting due to national regulatory regimes.
• Diverse restriction, policies and definitions.
• The inability to operate consistently throughout the single market limits the development of crowdfunding as a sector, and of Europe as a market leader in this field.
• Seedrs has been involved in various Capital Markets Union work streams since 2014.
• We have watched with interest and support the Commission’s work on this topic.
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New European Crowdfunding Regime
• Opt-in cross-border regime.
• Provides platforms with the opportunity to take advantage of a single market.
• Doesn’t interfere or disrupts neither national regulations nor existing European securities regulations such as MiFID.
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1 Million Euros Limit
• Doesn’t support the startup to scale up businesses that crowdfunding proposal sets out to support.
• More and more businesses raise in excess of 1 Million Euros through our platform.
• We are aware that not all member countries will be introducing the 8 Million Euros limit in the prospectus regulation.
• We would propose an 8 Million Euros limit at European level while maintaining national limits.
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Points of Clarification
• Clarification is needed regarding controlling client funds.
• Platforms may not be authorised as payments institutions, but should still be able to participate in the funds flows through third parties.
• Marketing individual crowdfunding projects.
• We believe restriction is broader than needs to be. Marketing of individual projects should be allowed using objective and pre-determined decision factors rather than being discretionary.
• Use of SPVs should be encouraged and platforms require additional MiFID activities, e.g. executing orders on behalf of clients, performing investment due diligence or entering shareholder documentation.
• Remove restriction regarding fixed prices in secondary markets.
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Seedrs is authorised and regulated by the Financial Conduct Authority (FCA). Seedrs Limited is a limited company, registered in England and Wales (No. 06848016), with registered office at Churchill House, 142-146 Old Street, London, EC1V 9BW.
Thank You!
[email protected] www.seedrs.com
@seedrs
Carlos Silva
Seedrs LimitedChurchill House 142-146 Old Street London EC1V 9BWUnited Kingdom