- Jun. 5, 2014 - PARIS, France –The founding members of the European Equity Crowdfunding Association met May 23 to formalize the association and discuss the growing market of equity crowdfunding.
The City of Paris, with the Grande Arche de la Défense serving as the gateway to Europe’s largest business-financial district, hosted the meeting of equity crowdfunding platforms from the 10 European Union countries, namely: Austria, Belgium, Bulgaria, Estonia, Finland, France, Ireland, Italy, Spain and the United Kingdom. They discussed the growing equity crowdfunding industry which, according to World Bank, will be $92 billion by 2025.
According to the European Commission, equity crowdfunding is a disruptive tool for financing small to medium enterprises and adding capital to newly formed businesses. The crowdfunding platform owners, with the prodding of the European Commission, have agreed to form a European business association solely committed to equity-based crowdfunding. Hence the momentous meeting of minds on May 23. The business association will develop standards on transparency and best practices in the European landscape. Its aim is to inform both business owners and contributors, to protect the crowd from fraud, and install an efficient complaint mechanism.
The 10-nation founding members of the association will welcome any operator from the European Economic Area, and also service providers to join them, as aggregated members. Crowdfunding operators from Denmark, Norway, Switzerland and Sweden have signified their intent to join the newly formed equity association. The association will start operations as soon as the officers are chosen and legal matters are observed.
Equity platforms in the EU countries are fully regulated professional intermediaries under the supervision of national financial authorities.
Alessandro M. Lerro, founder of Lerro & Partners, a recognized legal expert on crowdfunding working with The Soho Loft and David Drake, and Bruno Schneider Le Saout, founder and chairman of APPEES-In’Mart, on behalf of the founding members of the association say, “We are very happy about the enthusiasm of the industry and we are sure that this group will create much value for the stakeholders and the investors.”
The Soho Loft is the crowdfunding authority in the financial media landscape. Mr. David Drake, founder and chairman of The Soho Loft, helped found CFIRA (Crowd Fund Intermediary Regulatory Advocates), the US equity crowdfunding advocates association, on March 18, 2012, and set up the first SEC meetings that still confer with CFIRA in the US. David says, “Congratulations to the equity crowdfunding platform owners for establishing the European Equity Crowdfunding Association. This is the right time to focus on equity crowdfunding and to provide small to medium enterprises the much needed capital to start their businesses and sustain them.”
About The Soho Loft (www.thesoholoft.com)
The Soho Loft – The Voice of Capital Formation – is a global financial media company with three divisions in Corporate Communications, Publishing and Expos & Events.
TSL Corporate Communications division handles Public Relations, Investor Relations and Social Media Marketing for its clients. TSL Expos & Events division organizes up to 200+ investor-focused events annually and TSL Publishing division produces financial and entrepreneurial content that is published and syndicated in 100+ leading online publications and growing.
As The Voice of Capital Formation, The Soho Loft Media Group is your global communications partner for your equity and investment strategies.
For inquiries, contact [email protected] or call 212.845.9652
MEDIA CONTACT:
Victoria Global (www.victoriaglobal.co)
Victoria Global is your leading content and communications marketing partner with expertise and network in both institutional investing and crowd financing. With a history deeply intertwined with financial innovation, Victoria Global offers an integrated approach to cutting edge public and investor relations using balanced and multi-tiered systems and strategies.
The Victoria Global integrated approach is a balanced approach: Combining thought leadership and targeted engagement to drive a positive, sustainable and long-term impact to building brand awareness and loyalty.
The Victoria Global integrated approach is a multi-tiered approach: Linking traditional media channels and strategic optimization of new media like blogger outreach, social networks, platforms and technologies to propel a creative, organic and solid growth to customer and audience engagement.
As your leading content and communications marketing partner, Victoria Global is all about knowing and connecting with your crowd.
For inquiries, contact [email protected] or call 212.845.9652
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