Estonia

Estonian Crowdfunding Platfom Estateguru Gets EU Crowdfunding Licence

by Fintechnews Baltic May 11, 2023

Estateguru has announced that the Estonian Financial Supervision and Resolution Authority (Finantsinspektsioon) has granted the platform its European Crowdfunding Service Providers for business (ECSPR) licence, allowing it to operate as a crowdfunding service provider across all European Union (EU) member states under unified rules.

Estateguru was the first crowdfunding platform to be regulated in several markets, including Lithuania, Finland and the United Kingdom. The granting of the new Pan-European licence, serves to confirm that the company is fully compliant with all of the recently introduced regulations, and that its internal processes and procedures meet the financial standards necessary to operate anywhere in the EU.

Mihkel Stamm

‘The ECSPR licence marks a significant milestone for Estateguru, enabling the platform to expand its services and provide investment opportunities to a wider user base throughout the European Union. The recently introduced ECSPR regulations provide for greater transparency for investors and introduce new obligations to ensure consumer protections and safeguard the interests of investors,’

said Mihkel Stamm, CEO of Estateguru.

Estateguru has been proactive in preparing for this regulatory change, having already implemented customer checks, complaint handling protocols, appropriate marketing messages, and other changes in order to fully comply with the ECSPR regulations. The company had previously championed the creation of the regulations, and even contributed to their formation in Estonia.

‘As Estateguru becomes among first ones on our home markets to receive a licence, the company solidifies its position as a trusted and compliant crowdfunding service provider, both in the region and all of Europe,’

added Mihkel.

Featured image credit: Mihkel Stamm, CEO of Estateguru