Crowdinvesting turned out to be a success in Slovakia

The hotel group needed only half the time to raise the target sum of €2.5 million.

(Source: Sme)

The hotel group Falkensteiner Hotels & Residences has recently enabled Slovaks to participate in crowdinvesting via the financial platform Finnest.com. It raised the target sum of €2.5 million within 5-and-a-half weeks instead of the expected 10 weeks. The funds from Austrian, Swiss and Slovak investors will be invested in existing markets, the TASR newswire reported.

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The hotel group ran two campaigns in order to raise a total of €5 million. The first round took place in autumn and raised €2.5 million. The second round,which Slovaks joined, was launched in late November. The average investment was €8,000, a new record.

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“The overwhelming interest in crowdfunding in our brand clearly signals choosing financing in this form was a correct decision,” said Otmar Michaeler, co-owner and CEO of the Falkensteiner Michaeler Tourism Group (FMTG).

What is crowdinvesting?

Crowdinvesting is equity-based crowdfunding. In the case of equity-based crowdfunding, users invest in a start-up and receive shares in return. Investors become shareholders of the start-up and benefit from the profits of the start-up and from the possible sale of the start-up to a large investor. In the case of traditional crowdfunding, users receive no shares in a start-up but a symbolic return, for instance a CD.

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