Crowdinvesting platform Opstart has announced that it has finally obtained authorization from Consob and the Bank of Italy to operate under the new European regulations.
Opstart, like other platforms, had been forced to suspend its crowdinvesting activities on November 10, then for more than a month, just waiting for the authorization process, which evidently took longer than expected.
This is the fifteenth authorized platform in Italy of which eleven had been given the green light by the November 10th deadline.
Giovanpaolo Airoldi, CEO and founder of Opstart, commented in an email to platform users, “from when Opstart was just an idea to when we became a fintech hub of crowdinvesting the challenges have been many. And today we have overcome a new one, perhaps the most important one: our industry in the last few days has been revolutionized by the coming into force of the new European Crowdfunding Regulation, which finally allows us to go beyond the borders of individual EU states and open to a wider (and competitive) market.”
Read more about Opstart and the European regulation on crowdfunding, and find the latest financial news of the day with the Born2Invest mobile app.
Opstart was founded in 2015 as an equity crowdfunding portal, later expanding its core business to debt and lending crowdfunding, with Crowdbond and Crowdlender, and thematic divisions, such as Crowdre for Real Estate.
In 2022, Banca Valsabbina had signed an agreement to acquire a 9 percent stake in the portal, subject to the fulfillment of certain conditions precedent.
In April this year, Warrant Hub (Tinexta Group), a leader in strategic and financial consulting for innovation, digital transformation, and sustainable business development, had announced its entry into Opstart’s capital with 9.1 percent, while establishing a strategic and commercial partnership.
At the moment, Opstart is the first fintech hub in Italy to offer all crowdfunding-based alternative finance tools.
In terms of equity crowdfunding alone, since its launch in 2016, the portal has raised more than €67 million by funding 158 projects.
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