Gościnnie dla „Alternative Finance Trends Newsletter”

 

This week we have a detailed insight in the Status of Alternative Finance in Poland with Karol Król.

What is the current status of Alternative Finance?
Alternative finance sector has an important role in the landscape of sources of financing in Poland. Already 1 in 8 startups claims their plan to use crowdfunding within next 6 months and crowdinvesting platforms are outperforming alternative public stock market New Connect in number of companies raising funds.

Click on the graph to access to the all report.
It is assumed that the volume of funds provided through financial platforms will overpass 0,5 billion polish zlotych (135M EUR) this year. Over 3 million Poles used at least one alternative finance platform within last 5 years. Dynamic development is a part of very vast adoption of fintech solutions, provided by both local and international entities.
Most popular services by volume are p2p lending, online fundraising and crowdinvesting. Also fintech microfactoring services are popular with small business owners. There are over 30 alternative finance platformsand several next announced to establish their activity.
Legislative changes supported development of crowdinvesting with up to 1 million euros non-prospectus equity rounds and online fundraising without administrative permissions. Despite the fact there is no direct law on crowdfunding in Poland, its development is supported by financial market stakeholders. Warsaw Stock Exchange claims to include cooperation with crowdinvesting platforms in its long-term strategy and Financial Supervisory Commission intent to establish “regulatory sandbox” to create better environment for the development fintech platforms.

Can you give us an inspiring case from your country?
The leading platforms are zrzutka.pl with 127 748 fundraising projects and finansowo.pl, a p2p lending provider with 108,5 M polish zlotych (28 M EUR) total volume.

zrzutka platform
What are the biggest obstacles for growth?
There are several legal hurdles that make alternative finance platforms in Poland less attractive than it is possible. On the other hand, there are different legal initiatives aimed at changing it, e.g. the law proposal on simple joint-stock company that will be a new form of capital entity. Financial Supervisory Commission after public dialogue published a report that detects 85 legal barriers with suggested solutions included, which is a step in making Poland world’s fintech hub.

Click on the graph to access to the all report.
Due to lack of existing regulation and non-supportive sentiment, there is no reasonable legal foundation in Poland to raise funds through ICO. However, it is gaining popularity among startups, mostly they are changing jurisdiction, which is a loss for polish economy.
In general the awareness of alternative finance platforms and services are higher and higher, so the future seems with very promising.

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