Spain’s Crowdfunding Sector Surges as Real Estate and SME Financing Expand

Crowdfunding experienced strong growth in Spain in 2025, reaching €761.6 million raised. This represents a 45.8% increase over the previous year, according to the Annual Report on Crowdfunding in Spain, prepared by Universo Crowdfunding. For freelancers and micro-enterprises, the most significant figure lies not only in the record amount but also in the growth of loan-based and invoice-advance financing options.

The report identifies real estate crowdfunding as the dominant model, with €566.2 million and 74.3% of the total. However, it also reveals a significant shift for businesses seeking financing outside of traditional banks. Crowdlending, a loan structure facilitated by numerous individual or professional investors, grew by 403.8% to €75.9 million, while crowdfactoring, which allows businesses to receive advance payments on invoices through investors, reached €319 million.

These two options are likely to be of greatest interest to freelancers and small businesses with liquidity needs, productive investment requirements, or payment delays. Universo Crowdfunding points out that, at a time when bank financing is becoming increasingly selective, these platforms offer a complementary way to raise capital, although they do not replace a prior analysis of costs, terms, and risks.

Invoice factoring is gaining traction as a liquidity alternative

Crowdfactoring appears in the report as one of the most significant developments of the year, incorporating a modality that until now had less visibility than real estate investment or patronage. It works by a company assigning the right to collect payment on an outstanding invoice to several investors in exchange for receiving the money sooner.

For an SME that works with clients who pay on 60 or 90-day terms, this formula can be used to cover payroll, suppliers, or merchandise purchases without waiting for invoices to become due. The report identifies SEGO Factoring, Circulantis, and MytripleA as leading platforms in this segment.

The other fastest-growing avenue is crowdlending, which allows businesses to obtain loans financed by individual or professional investors through digital platforms. According to Universo Crowdfunding, its surge in 2025 is explained by the entry of French and Italian platforms specializing in renewable energy.

The appeal for freelancers and SMEs lies in the fact that this financing can be used for specific projects, equipment purchases, or working capital needs, provided the business passes the platform’s creditworthiness checks. This is not free money or public aid, but rather private financing that must be repaid.

The real estate sector accounts for three out of every four euros raised via crowdfunding

The real estate sector continues to dominate the Spanish crowdfunding landscape . In 2025, it raised €566.2 million, a 54.6% increase over the previous year, accounting for almost three out of every four euros raised by the entire sector.

This data is less directly relevant for most self-employed individuals and SMEs, as many transactions are linked to real estate developments, renovations, and projects. Even so, it may be of interest to construction companies, technical firms, renovation suppliers, and related businesses.

The report also includes €52.1 million in equity crowdfunding, 13.9% more than in 2024. This method allows investment in the capital of startups and growing companies, so it can be an option for innovative businesses seeking investment partners.

While these business models have grown, donation-based crowdfunding fell by 35.4% to €44.1 million, due to comparisons with the exceptional year of 2024, marked by the devastating floods in Valencia. Reward-based crowdfunding , associated with cultural projects, publishing, or product launches, declined by 14.3% to €23.2 million.

Regulated platforms must be supervised by the CNMV

One of the most important things freelancers and SMEs should check before using these platforms is whether they operate within the relevant regulatory framework . Equity, crowdlending, and real estate crowdfunding platforms are supervised by the Spanish National Securities Market Commission (CNMV) and operate under European Regulation 2020/1503.

This oversight doesn’t eliminate the risk, but it helps distinguish between professional platforms and opaque methods of raising money. In practice, businesses must compare costs, fees, terms, required guarantees, and the consequences of default.

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(Featured image by Daniel Prado via Unsplash)

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