Crowdfunding services
Matching business project owners with retail and institutional investors to facilitate loans or securities placements requires authorisation under the European Crowdfunding Service Providers Regulation (ECSPR) Article 2(1)(a), held by investment firms or dedicated lending platforms. Authorised crowdfunding providers benefit from full passporting rights across all European Union member states.
Definition
Matching business funding interests of investors and project owners through a platform, by facilitating loans or placing securities.
- ECSPR, Art. 2(1)(a): official text
Which licence you need
Licence families that typically permit this activity:
- MSB · Canada
Money services business (MSB) registration (covers foreign exchange dealing, money transferring, virtual currency dealing, crowdfunding platforms and related services; a separate foreign-MSB registration applies to businesses without a place of business in Canada that direct services at Canadians)
FINTRAC
- Credit · Cyprus
European Crowdfunding Service Provider authorisation
CySEC
- Credit · Czech Republic
Crowdfunding Service Provider authorization under ECSPR (povolení k činnosti poskytovatele služeb skupinového financování)
CNB
- Credit · Estonia
Authorisation as a crowdfunding service provider under ECSPR
FI
- Credit · France
Prestataire de services de financement participatif (PSFP) / European crowdfunding service provider authorization
AMF
- Credit · Ireland
Crowdfunding Service Provider Authorisation (ECSPR)
CBI
- Credit · Italy
Fornitore di servizi di crowdfunding / European crowdfunding service provider authorization (ECSPR)
CONSOB
- Credit · Latvia
Crowdfunding service provider authorization
LB
- Credit · Lithuania
Crowdfunding service provider authorization
LB
- Credit · Lithuania
Peer-to-peer lending platform operator
LB
- Credit · Luxembourg
Crowdfunding service provider authorisation
CSSF
- Credit · Netherlands
European Crowdfunding Service Provider (ECSPR) authorisation under Regulation (EU) 2020/1503
AFM
- Credit · Poland
Crowdfunding Service Provider authorization under ECSPR (dostawca usług finansowania społecznościowego)
KNF
- Credit · Slovakia
Crowdfunding service provider authorisation under ECSPR (povolenie na činnosť poskytovateľa služieb kolektívneho financovania)
NBS
- Credit · Spain
Proveedor de servicios de financiación participativa / European crowdfunding service provider authorization
CNMV
Where it can be licensed
Frequently asked questions
What individual project fundraising cap applies under ECSPR?
Under ECSPR, crowdfunding project owners are subject to an annual capital raise cap per project. Larger capital raises must comply with standard prospectus regulations and full MiFID II investment firm placement rules.
How are retail investors protected on crowdfunding platforms?
Platforms must categorise investors as sophisticated or non-sophisticated. Non-sophisticated investors must complete an entry knowledge test, undergo simulated loss simulations, and receive explicit risk warnings before investing capital, accompanied by a pre-contractual reflection period.
Sources
- ECSPR Art. 2(1)(a) · retrieved 2026-09-24
Planning crowdfunding services? Get the licence right first
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