EECA: Fireflock help drive crowdfunding standards
30th May 2014
Level39 members Fireflock have become founder members of EECA, the European Equity Crowdfunding Association.
Following suggestions made by the European Commission, a group of equity-crowdfunding platform operators created a European business association devoted to equity-based crowdfunding – Fireflock are one of these operators. The organisation will look to lead thought on industry standards and the protection of users from fraud and other pertinent issues.
Fireflock, who have recently moved into a larger space here, connect proven investors to early-stage equity opportunities.
Callum Campbell, (pictured above on the far right), CEO and Co Founder of Fireflock, was quick to point out the global potential of equity platforms, “Crowdfunding is a global industry offering cross border opportunities. This initiative will allow operators to join an Association which aims to uphold standards and promote best practice.”
Equity crowdfunding differs from reward-based crowdfunding in that the campaigns are driven by the offering of a stake in a company, rather than a product or an incentive.
In most EU countries, equity platforms are currently fully regulated professional intermediaries under the control of national financial authorities.