The Bulgarian Stock Exchange and the Central Depository have launched SpaceCrowd, a new crowdfunding platform designed to support startups and early-stage business ideas in Bulgaria. This initiative allows companies to raise up to EUR 5 million in capital.
"We expect companies to seek funding between BGN 200,000 and BGN 2 million through SpaceCrowd, while for larger amounts, they will be directed to the BEAM growth market for small and medium enterprises," stated Assoc. Prof. Manyu Moravenov, CEO of the Bulgarian Stock Exchange, during a presentation of the platform. He mentioned that the platform has undergone extensive testing with other market participants over recent months.
Assoc. Prof. Moravenov elaborated on the need for such a platform: "When we launched BEAM a few years ago, we found plenty of companies were just short of meeting the threshold for the growth market. At the same time, they had the potential to attract investors and were innovative companies. In some cases, they also needed additional funding after completing a private financing round."
SpaceCrowd is accessible to all joint-stock companies regardless of their development stage. Companies can create profiles directly on the platform but require prior business evaluation by a licensed consultant.
Investment intermediaries are key partners in this venture, facilitating access to SpaceCrowd for their clients interested in exploring new investment opportunities. The platform includes functionalities that allow investments via bank transfer.
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