Villyz, an online investment platform based in Paris, says it has received approval to offer securities across the European Union under ECSPR (European Crowdfunding Service Provider Regulation). The new rules went into effect in November of 2021 allowing issuers to raise up to €5 million across the EU.
Under the ESCP rules, a securities crowdfunding platform must be approved by the relevant national authority or securities regulator. Villyz tweeted earlier today that it is the first French platform to be approved under the new rules.
— Villyz (@Villyz_FinTech) September 6, 2022
Villyz is a niche platform that provides funding for “community projects” via crowdfunding loans. It is also one of a few platforms that has been approved to label projects as “financement participatif pour la croissance verte” or green crowdfunding projects – as determined by the Ministry for Ecological Transition. Villyz is one of a few European platforms to be approved for pan-European investment crowdfunding but many platforms are in the process of gaining the status under ECSPR.