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What is crowdfunding?

CrowdfundingCrowdfunding means ‘collective financing’, a term that is not defined in Slovak or EU statutory regulations. Crowdfunding must be differentiated from the term ‘collective investment’ which is regulated.


Crowdfunding is a method of alternative finance for initiatives (projects) of individuals and companies. It usually has the form of on-line campaigns and can be aimed at both non-profit and business activities. The term means raising funds from a large group of people (called ‘supporters’) in different ways for the purposes of financing the projects or business plans of specific persons (called ‘project owners’). Each supporter contributes a relatively small part of the total value that the project owner wishes to raise. Such raising of funds is often based on the ‘all or nothing’ principle, meaning that if the predetermined target amount is not raised, the funds are returned to the supporters.

Contents:« Back to FinTech

  • I. How does crowdfunding function in practice?

  • II. Types of crowdfunding

  • III. Legislation

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Documents of international standardization institutions

European Supervisory Authorities

Date Name
18/07/2019 EBA publishes Report on regulatory perimeter, regulatory status and authorisation approaches in relation to FinTech activities
12/7/2019 ESMA Report - Licensing of FinTech business models
08/03/2018 EC: FinTech action plan: For a more competitive and innovative European financial sector
26/02/2015 EBA Opinion of the European Banking Authority on lending-based crowdfunding
18/12/2014 ESMA Opinion Investment-based crowdfunding

International Financial Market Regulation Organizations

Date Name
06/06/2019 FSB Decentralised financial technologies Report on financial stability, regulatory and governance implications
14/02/2019 FSB FinTech and market structure in financial services: Market developments and potential financial stability implications
08/12/2017 IOSCO Research Report on Financial Technologies (Fintech)
27/06/2017 FSB Financial Stability Implications from FinTech Supervisory and Regulatory Issues that Merit Authorities’ Attention
21/12/2015 IOSCO Statement on Addressing Regulation of Crowdfunding
21/12/2015 IOSCO Crowdfunding 2015 Survey Responses Report