Crowdberry launches new investment campaign as an ECSP-licensed platform since the summer
31/10/2023
A new investment campaign already under the European licence of the National Bank of Slovakia, new processes and even greater security when investing under the supervision of the capital market: all this to further fulfil the parameters of a premium investment platform, which has been operating in Slovakia since 2015 and registered more than 1,500 new investors in 2023 alone.
Crowdberry, a Czech-Slovak investment platform, obtained a license for crowdinvesting from the National Bank of Slovakia (NBS) over the summer and is currently launching its first investment opportunity under the new regulation. The platform is also passported for the Czech market, where Crowdberry also operates, and we are working on the preparation of further campaigns, which will bring new product. This was presented to investors separately during November 2023.
What does the NBS licence mean?
It took about a year to obtain the licence and is linked to a very welcome new European regulation. During this period, the platform went through a rigorous vetting process by the NBS, where the company provided the regulatory authorities with information on corporate governance, the course of investment campaigns, and how the internal processes related to investing are set up. In addition, the license will also bring the long-awaited secondary market for the sale or purchase of shares after the investment campaigns are completed.
Investing on the platform as you know it, with only minor changes
Being NBS licensed allows Crowdberry to provide investment services in accordance with current legislation across the EU, with investing remaining as simple and transparent as ever. In particular, the change brings strict accountability of companies over the quality of the data they provide, as well as an investor verification process. In order to be able to invest in target companies and go through the investment documentation, we will verify your identity through your ID card. The new investment questionnaire will help you to evaluate whether this form of investing is suitable for you.
Investment platform verified by investors and companies
As a "Czechoslovak" platform, we are building an investment ecosystem that aims to highlight the attractiveness of the local entrepreneurial ecosystem to Slovak and Czech investors. We are looking for Czech and Slovak companies that have an international or even global presence. Your invested capital is used by companies primarily for value development, investment in new technologies, digitalization, and the creation of new jobs. In recent years, the invested funds have enabled the development of more than 70 companies and helped to create more than a thousand skilled jobs. Our mission is to enable above-average capital appreciation and to help the development of local entrepreneurship, startups, and small and medium-sized enterprises (SMEs), i.e. companies that form the core of the Czech and Slovak economies.
During the transitional period since the acquisition of the license, the investment campaigns on the largest investment platform in the Czech Republic and Slovakia have been catching up. Across the board, we reduced the minimum investment to €5,000 until 10 November 2023. At the same time, we are launching the first campaign in the so-called ESCP mode.
New investment opportunity FLEXDOG – a European search engine and marketplace for streetwear
The new investment campaign, and our first ECSP campaign, for one of Europe's largest streetwear and sneaker search engines, FLEXDOG, will allow you to co-own this unique company, tapping into the dynamic world of Generation Z. In addition, it gives investors the opportunity to join the renowned local investors Credo Ventures, Kaya and Tomas Čupr's TCF.
Customers, especially from Generation Z, can find an extremely wide selection of clothing and sneakers in one place, including exclusive pieces not available elsewhere, thanks to the ever-growing number of FLEXDOG business partners. Nearly 7 million unique visitors from 10 countries visit the site annually, searching for their favourite product at the best price among 180,000 products from global brands from 170 partners and online stores from around the world.
"On the FLEXDOG platform we connect brands, retailers and aftermarket retailers with Gen Z customers, and over the last year we have firmly established the brand in the Czech Republic and Slovakia. In the short term, we are focusing mainly on expansion within the EU and in the long term on taking FLEXDOG into the global market. Thanks to the easy scalability of the business model, which is not dependent on physical inventory, we are able to launch sales in new countries within a few days. We turned to Crowdberry to raise capital to help us establish ourselves in new markets and expand the service to include a mobile app. Our long-term vision is to showcase 90% of the world's streetwear offerings in one place and become the #1 trusted source in the world for streetwear and fashion," said Jakub Mandat, CEO and co-founder of FLEXDOG.
FLEXDOG was founded in 2020 as a business idea at the heart of Footshop and, after being spun out, received seed investment from the renowned Czech investment funds Credo Ventures, Kaya Ventures and the TCF fund of the founder of Rohlík.cz.
The search engine is shaping the secondary streetwear fashion sales market in the CEE region. Partners are not only local players from CEE, but also global marketplaces such as StockX or KLEKT. According to analysts, the estimated value of global secondary sales of streetwear fashion will reach up to €30 billion by 2030.
