EstateGuru Receives ECSPR Approval

Estateguru has been approved to operate under European Crowdfunding Service Providers Regulation or ECSPR. Under the new EU legislation, a platform may sell securities online across all EU member states. Issuers may raise up to €5 million. Estateguru was approved by the Estonian Financial Supervision and Resolution Authority (Finantsinspektsioon).

Estateguru is a European marketplace for property-backed loans for SMEs that allow individual investors to participate in the securities offerings.

Estateguru is a well-established crowdfunding platform that has operated in multiple markets, including Lithuania, Finland, and the United Kingdom. By receiving the pan-European license, Estateguru will be able to expand its services dramatically.

‘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,” said Mihkel Stamm, CEO of Estateguru. 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.”

Estateguru reports that it has been working on the regulatory change having implemented customer checks, complaint-handling protocols, appropriate marketing messages, and other changes in order to fully comply with the ECSPR regulations. Estateguru noted that it had previously championed the creation of the regulations and even contributed to their formation in Estonia.

Stamm said that Estateguru was the first platform in their home market to receive a license, describing the approval as solidifying the platform as a “trusted and compliant crowdfunding service provider, both in the region and all of Europe.”

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