Body
FinTechs belonging to this category operate crowdfunding, crowdinvesting and crowdlending platforms on which money is raised to invest in various projects, mainly start-up companies and real estate projects.
Crowdfunding is not a defined financial service, but generally used to describe donation-based crowdfunding (the investor donates the money to the project), reward-based crowdfunding (the investor receives an often symbolic consideration for his investment), equity-based crowdfunding (crowdinvesting: the investor participates in the profits of the financed project or acquires shares or debt instruments) or lending-based crowdfunding (crowdlending: the investor is reimbursed at the end of the project with or without interest).
Introduction
Attitude of the country towards crowdfunding, crowdinvesting and crowdlending platforms
Crowdfunding has recently gained (practical) recognition in Albania; nevertheless, it persists as an unregulated practice under a special regulatory framework. Certain crowdfunding endeavors typically require adherence to legislation governing commercial enterprises, sponsorship regulations, the Albanian Civil Code, and other relevant statutes.
Legal affairs
Obligations and requirements to provide crowdfunding, crowdinvesting and crowdlending platforms described above
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Additional comments regarding the legal situation for crowdfunding, crowdinvesting and crowdlending platforms or what FinTech’s must be aware of in this business area
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Economic conditions
Market size for crowdfunding, crowdinvesting and crowdlending platforms and biggest companies in this business area
Additional comments regarding the economic situation for crowdfunding, crowdinvesting and crowdlending platforms or what FinTech’s must be aware of in this business area
In recent years, the Albanian market has gained familiarity with crowdfunding activities, albeit sporadically. Nonetheless, this type of business model remains relatively limited in Albania. Additionally, the absence of regulatory authority for crowdfunding activities in Albania results in shortage of official data on such activities.