Norway is experiencing solid growth in online capital formation in spite of the ongoing epidemic, similar to what has been reported in some other markets.
According to a tweet by Rotem Shneor, a well-known researcher in the crowdfunding sector. Shneor is an Associate Professor at the University of Agder School of Business and Law in Norway, and also the academic director of the university’s Center of Entrepreneurship and associate researcher with the Cambridge University Center for Alternative Finance in the United Kingdom. Shneor also co-founded the Nordic Crowdfunding Alliance, of which he remains a board member.
Norwegian #Crowdfunding Market crosses NOK 500 Million Milestone in first three quarters of 2020. Despite COVID-19, growth continues with P2P Business and Property Lending as main growth engine.@Startup_Norway @crowdfundinside @InnovasjonNorge @Crowdfundnews @siliconvikings pic.twitter.com/HXjQq7AmQi
— Rotem Shneor (@rotemjsh) October 28, 2020
Overall, the sector as quantified by Shneor indicates that Norway has topped NOK 500 million (about $52.5 million)
The top sector appears to be peer to peer lending for property developments – an area that captures 71% of 2020 volumes.
The NOK 500 million is 72% higher than the year prior in the same period. Q3 is the largest quarter ever at NOK 184.9 million ($19. 4 million).
In general, Shneor includes rewards (e-commerce) and donations in his research but investment crowdfunding is the dominant segment.