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EU plans crowdfunding ‘passports' to boost fintech
1 month ago | By VentureBeat
The European Union's executive has proposed a draft law to offer crowdfunding platforms bloc-wide access to customers as part of efforts to boost growth in the financial technology sector.
Crowdfunding allows start-ups to tap small sums of money from many individuals as an alternative to a bank loan, still the main source of funding for small and medium sized companies.
“An EU crowdfunding license would help crowdfunding platforms scale up in Europe,” the bloc's financial services commissioner Valdis Dombrovskis said in a statement.
“It will help them match investors and companies from all...
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