CrowdFundMe gets new European authorization for crowdfunding -November 13, 2023 at 03:18 am EST
(Alliance News) – CrowdFundMe Spa announced Monday that it has obtained new European authorization for crowdfunding operators.
“This is a key event for business continuity and compliance with the European Regulation for crowdfunding platforms, which comes into force today,” the company explained.
CrowdFundMe will thus benefit from the new regulations, which promote the formation of a single European market, unified with clear rules. In particular, the EU regulation incentivizes the cross-border provision of crowdinvesting services, which was previously discouraged by highly fragmented laws.
CrowdFundMe, therefore, will be able to raise funds for startups and SMEs by also targeting investors in other EU countries.
“Obtaining the authorization is the first fundamental step to accelerate our growth path,” said Tommaso Baldissera Pacchetti, CEO of CrowdFundMe. “Now, the portal will be able to operate within a unified European regulatory framework and act with cross-border dynamics, attracting investors from every member state. In addition, there are also benefits for our investors and issuing companies, thanks to regulations that provide more transparency and greater protections.”
Benedetto Pirro, Chief Operating Officer of CrowdFundMe, added, “The authorization process was a major challenge for the company but, thanks to our compliance and LX20 Law Firm, we managed to achieve the expected result. Now, we are ready to launch new investment opportunities: in fact, we have developed a solid pipeline in the last period.”
CrowdFundMe’s stock is unchanged at EUR1.95 per share.
By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter
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