Bpifrance has decided to shut down its crowdfunding marketplace TousNosProject.fr. Launched in 2015, at one point, it was reported that approximately 1000 projects were listed on the aggregator site.
An early supporter of crowdfunding, Bpifrance is a state-managed venture capital firm. The entity also supports early-stage ventures by providing loan guarantees, mentoring, and overall support for entrepreneurs operating in France. Bpifrance reported injecting €63 billion into the French economy in 2023.
As for the TousNosProject, apparently, the website was shuttered as it required a security update that Bpifrance was not interested in pursuing. Outreach to platforms indicated little interest in maintaining the project. Reportedly, approximately 30 platforms saw offerings listed on the site.
The European Union has incorporated pan-European crowdfunding rules which has changed the make up of the securities crowdfunding industry. Today, platforms must seek regulatory approval from a relevant authority in a member state to offer online capital formation across all member states.