28 January 2022
PeerBerry's shareholders set deadlines to launch the crowdfunding platform
PeerBerry shareholders set deadlines for the launch of the crowdfunding platform in Q2 2022.
The crowdfunding license to run a crowdfunding business across the EU has been issued by the Bank of Lithuania, one of the most progressive and reputable regulators internationally. The list of licensed crowdfunding platform operators who are under the supervision of the Bank of Lithuania may be found here.
The holder of the crowdfunding license is the Lithuanian legal entity Crowdpear LLC, which authorized capital currently is EUR 60 000 – higher than required by regulation. Shareholders of the investment marketplace PeerBerry and the crowdfunding platform Crowdpear are the same. The crowdfunding platform will run its operations under the registered brand Crowdpear.
Regulated platform Crowdpear will offer investors investing in real estate and business projects. Crowdpear operations will be supervised by the Bank of Lithuania. Since 10 November 2021, crowdfunding regulation is being applied directly across the EU.
Heading towards the long-term strategy to become one of the most successful crowdfunding platforms in Europe, Crowdpear management also closely works with the Lithuanian P2P Lending and Crowdfunding Association.
Lithuania is one of the largest fintech hubs in the world. In Lithuania, the number of FinTech companies is growing by 20-30% a year.
About crowdfunding regulation and its advantages to investors
Since 10 November 2021, the crowdfunding regulation lays down uniform rules across the EU for the provision of investment-based and lending-based crowdfunding services related to business financing. It allows platforms to apply for an EU passport based on a single set of rules, which makes it easier for them to offer their services across the EU with a single authorization.
The new rules are expected to increase the availability of this innovative form of finance, which will help companies seeking alternatives to bank financing.
Investors on crowdfunding platforms, meanwhile, will benefit from an aligned and enhanced investor protection framework, based on:
- clear rules on information disclosures for project owners and crowdfunding platforms,
- rules on governance and risk management for crowdfunding platforms,
- strong and harmonized supervisory powers for national authorities overseeing the functioning of crowdfunding platforms.
More about EU crowdfunding regulation:
Since last year, the P2P lending comparison website P2P Empire was following our progress in receiving the license. P2P Empire insights on our crowdfunding platform launch may be found in their video here.