San Francisco and Berlin-based Wefunder, an equity crowdfunding platform, announced on Wednesday, February 15, that it has expanded its operation into the European Union.
The announcement comes after the EU passed a new set of pan-European regulations in late 2021, after two years of negotiations by the member states.
According to the EU, the new European Securities and Markets Authority (ECSPR) regulations “harmonise and replace old, country-specific regulations around crowdfunding.”
The latest regulation allows founders to raise up to €5M per year from their customers and investors across the EU through licensed platforms.
“In addition to providing an alternative source of financing, including venture capital, crowdfunding can offer other benefits to businesses. It can validate a business idea, give entrepreneurs access to a large number of people providing insights and information, and be a marketing tool,” says the EU.
WeFunder says dozens of startups are now raising funds on its platform, including:
- AheadApp (Germany)
- BarnaBrew (Spain)
- Everjump (Germany)
- Housers (Spain)
- Klaeny (Germany)
- Kombuchery (Germany)
- LastBasic (Spain)
- Stack Browser (Netherlands)
- Volup (Portugal)
- Wedio (Denmark)
- Zeedz (Germany)
Invest as little as €100
With the platform, people can invest in the startup market for as little as €100. And any company can raise capital from European individuals and Wefunder’s network of accredited investors.
“We have worked tirelessly to democratise access to capital for founders for more than a decade, and to be able to bring this opportunity to EU-based companies is incredibly exciting,” says Nick Tommarello, CEO and Co-Founder of Wefunder.
He adds, “One of the most powerful forces in the world is when someone believes in your company and backs it up with a bit of their own money. Wefunder now allows that to happen, at scale in the US and EU.”
Wefunder has helped US-based businesses raise more than $575 million through community rounds and has obtained licensing to be the first US company to merge the US-EU startup fundraising ecosystem at scale.
Wefunder: Fundraising platform
Founded by Nick Tommarello and Greg Belote, Wefunder helps founders raise funding from their most passionate customers and fans, known as ‘Community Rounds’.
With dual headquarters in San Francisco and Berlin, Wefunder pioneered the equity crowdfunding space – democratising access to capital for founders and making it accessible for anyone to invest in startups that align with their values at scale.
The platform aims to fund 20,000 founders from diverse backgrounds by 2029.