Quantum Blockchain Technologies announced an update regarding its investee company, Forcrowd, an Italian equity-crowdfunding platform in which it holds a 41% stake. The AIM-listed firm reported that Forcrowd recently received registration from the European Securities and Markets Authority (ESMA) as an authorized provider of crowdfunding services under EU regulations. This milestone was achieved through an application process involving CONSOB, the Italian financial market regulatory authority, and the Bank of Italy, granting Forcrowd an ‘EU Passport’.
Achieving EU-Wide Reach
The EU Passport enables Forcrowd to offer its crowdfunding services across all EU member states, allowing it to host campaigns and raise funds from investors throughout the EU. This significant regulatory achievement positions Forcrowd to relaunch its crowdfunding activities with several campaigns already in the pipeline, scheduled for launch in the second half of 2024. The company’s focus will be on two primary sectors: real estate and energy.
Focus on Real Estate and Energy
In the real estate sector, Forcrowd aims to support the renovation, redevelopment, and energy efficiency of both private and commercial properties. This focus aligns with the growing demand for sustainable and energy-efficient real estate solutions across Europe. The energy sector campaigns will promote sustainable growth through the transition to renewable energy using innovative solutions and technologies. This approach is expected to address the increasing need for renewable energy sources and support the EU’s broader goals for sustainability and carbon reduction.
Strategic Implications
Quantum Blockchain Technologies highlighted that Forcrowd’s attainment of the EU Passport follows a nearly year-long application process. The authorization allows Forcrowd to fully launch its crowdfunding operations in strategic sectors across Europe, significantly expanding its market reach. Chief executive officer and chairman Francesco Gardin expressed satisfaction with Forcrowd’s achievement, noting that the ability to operate across Europe represents a substantial increase in market potential for the company.
Future Campaigns and Market Potential
With the ESMA authorization, Forcrowd is set to embark on a series of crowdfunding campaigns aimed at addressing critical areas within the real estate and energy sectors. The planned campaigns reflect Forcrowd’s commitment to supporting sustainable development and innovative solutions within these industries. By facilitating investments in renovation projects and renewable energy initiatives, Forcrowd aims to attract a diverse range of investors interested in contributing to sustainable growth and energy efficiency.
Enhancing Market Competitiveness
The expansion of Forcrowd’s operations across Europe is expected to enhance its competitiveness within the equity-crowdfunding market. The ability to raise funds from investors throughout the EU not only increases Forcrowd’s market presence but also provides a broader platform for innovative projects seeking financial backing. This strategic move is likely to attract significant interest from both investors and project developers, positioning Forcrowd as a key player in the European crowdfunding landscape.
Conclusion
Quantum Blockchain Technologies’ announcement underscores the strategic importance of Forcrowd’s recent regulatory achievement. By securing ESMA authorization and obtaining the EU Passport, Forcrowd is poised to significantly expand its market reach and operational capabilities within the EU. The planned campaigns in real estate and energy sectors highlight Forcrowd’s commitment to sustainability and innovation, aligning with broader EU goals for sustainable development. As Forcrowd prepares to relaunch its crowdfunding activities, the company is well-positioned to attract investment and support transformative projects across Europe, contributing to the growth of sustainable and energy-efficient solutions.