May 25, 2022

If you live in the UK or the US, you may already be familiar with equity crowdfunding. Yet some French startups are reaching out to their user community to raise new funding. Thanks to recent regulatory changes, UK-based investment platform Crowdcube is set to shake things up by officially launching it in the French market.

And you may have noticed the recent crowdfunding campaign in the French tech ecosystem. I recently covered the Series A final round. The company aims to transform private banking with a comprehensive financial aggregator with financial advice.

Finery also plans to get some of their Series A’s from their community through Crowdcube. This is understandable as Finari is an asset management platform and crowdfunding rounds also offer alternative investment opportunities.

And it was quite successful, as the startup managed to raise €2.17 million ($2.4 million at current exchange rates) from 983 Finery users in 21 minutes. People had the opportunity to invest from $10 to $5,000. He invested an average of 2,200 euros to become a Finari shareholder.

The next French crowdfunding campaign on Crowdcube is Qonto. This is important as Qonto is one of the most respected French startups. The company provides corporate bank accounts to small and medium-sized businesses in Europe. Earlier this year, the startup announced a $552 million (€486 million) Series D round with a $5 billion (€4.4 billion) valuation.

Since there can be a lot of interest in such a well-known company, Qonto is targeting its user base in France, Italy, Spain and Germany. Qonto customers can pre-register until April 19, prior to the official launch of the campaign.

“Companies love the community aspect of crowdfunding more than the fundraising element,” Crowdcube regional manager Frances Pauline Pham told me a few weeks ago.

And this is reflected in Crowdcube’s track record in other countries. Some of the notable startups that have raised funds through Crowdcube include Revolut, Monzo, Citymapper, Cowboy, and Freetrade. These are consumer startups with thousands and sometimes millions of users.

While Crowdcube seems like the perfect choice for fintech companies, the company doesn’t want to limit its platform to fancy tech companies. “We’re not just thinking about tech companies, but all kinds of private companies,” Pham said.

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