The Role of Equity Crowdfunding in Financing SMEs: Evidence from a Sample of European Platforms

Veronica Crescenzo
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Veronica Crescenzo: University of Verona

Chapter 7 in Crowdfunding for SMEs, 2016, pp 159-183 from Palgrave Macmillan

Abstract: Abstract To assess the fundraising potential of equity crowdfunding for SMEs and start-up firms, this chapter presents an analysis of the features of a sample of funding campaigns seeking funds on five European crowdfunding platforms. The expansion of equity crowdfunding in Europe began in the second half of 2011 and since then there has been gradual and continuous growth. Our results reveal that technological start-ups are not the only type of firm seeking equity funds and that equity crowdfunding can be considered a new type of funding model for established companies and for firms operating in more traditional fields of business. Consequently, we can also affirm that the ways in which equity crowdfunding is regulated will affect its capacity to supplement traditional sources of finance.

Keywords: Business Plan; Investor Protection; Target Company; Target Amount; Successful Funding (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:pal:pmschp:978-1-137-56021-6_7

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DOI: 10.1057/978-1-137-56021-6_7

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