Crowdfunding
A financing method through which a company or project collects funds from a large number of individuals via an online platform. It can take the form of donations, loans (crowdlending), or equity stakes (crowdequity).
In practice
Crowdfunding in France is regulated by the AMF and ACPR. Peer-to-peer lending platforms allow SMEs to borrow from 30,000 to 5 M€ within weeks, at rates of 4 to 9 percent depending on risk profile. Equity crowdfunding is more widely used for projects with a strong narrative or social impact angle, where the investor community also becomes an ambassador community. The European ECSP regulation has harmonised the rules across member states since 2021.