This is a brief introduction to Equity Crowdfunding in Italy where new guidelines have been settled since January 3rd 2018.

1. Equity crowdfunding in Italy
Luca Berruti
l.berruti@oadvisory.com

2. What is equity crowdfunding
On the one hand, the
company looks for capital
needed to develop its
business
On the other hand,
investors acquire shares
of the company.
Luca Berruti
l.berruti@oadvisory.com

3. What the company needs to do
In order to obtain funds, the company can
publish its business plan on one of the
authorized Italian platforms for equity
crowdfunding where it defines the
fundsraising target desidered.
Luca Berruti
l.berruti@oadvisory.com

4. Who is allowed to equity crowdfunding
New Consob guidelines have
been settled since January
3rd, 2018.
As well as start-ups, now
also traditional SMEs can
benefit from this tool.
Micro
enterprises
• < 10
employes
• < 2 mln
sales
volume
Small
enterprises
• < 50
employes
• < 10 mln
sales
volume
Medium
enterprises
• < 250
employes
• < 50 mln
sales
volume
Luca Berruti
l.berruti@oadvisory.com

5. Throughout the phases of equity
crowdfunding
Luca Berruti
l.berruti@oadvisory.com
Business idea
Fundsraising
Crowdfunding results
Business development

6. Business idea
A Sme has a great
idea
BUT
it has not enough
capital and it may
have credit
problems.
Luca Berruti
l.berruti@oadvisory.com

7. Fundsraising
Fundsraising
Business
plan
RewardsTarget
Business plan
• The company
publishes its
project on a
crowdfunding
platform
Target
• The firm
defines the
amount of
funds to be
reached
Rewards
• Also the
compensation
for investors
has to be
determined
Luca Berruti
l.berruti@oadvisory.com

8. Crowdfunding results
Target not
reached
Investors have
their money
back and the
company does
not cash in
Target
reached
The firm collects
the funds raised
allocating
shares to the
investors
Luca Berruti
l.berruti@oadvisory.com

9. Business development
Once the crowdfunding target has been reached,
the business plan can be developed and
investors will earn possible dividends paid by
the company
Luca Berruti
l.berruti@oadvisory.com

10. Pros and cons
• Start-ups have an alternative solution
to venture capital funds
• For other companies, equity
crowdfunding is a faster alternative to
bank credit
High risk on investors. The investment
can generate profits or losses on the
base of the ability of the firm to develop
the business plan figured out.
Luca Berruti
l.berruti@oadvisory.com

11. Equity crowdfunding platforms
1
1
1
2
4
4
5
5
5
10
10
10
13
19
26
27
Smarthub (closed)
Cofyp
Walliance
Investi-re
UnicaSeed
MuumLab
Next Equity
EquityStartup (closed)
Action Crowd
200 Crowd
WeareStarting
Equinvest
OpStart
Mamacrowd
CrowdFundMe
StarsUp
Projects published
Luca Berruti
l.berruti@oadvisory.com