The mandatory auditing of our annual report has been completed, and the report has been submitted to the Estonian Financial Supervision Authority and the Estonian Commercial Registry.
The biggest effort was directed towards the preparations necessary to comply with the EU Crowdfunding Regulations (EU CFSP Regulation, EU 2020/1503) and the application process itself. Crowdestate AS obtained the European crowdfunding license (4.1.-1/32) on March 6, 2023, and became both the first crowdfunding platform licensed in Estonia and the first pan-European real estate crowdfunding platform licensed in all 27 European Union member states. The full and up-to-date list of European crowdfunding service providers authorised under the European Crowdfunding Regulation can be found on the European Securities and Markets Authority’s website.
Since June 28, 2021, Crowdestate AS also holds the European Payment Institution license (4.1-1/82), which allows us open payment accounts for our investors, execute their payment transactions and safekeep their monetary assets.
Although our business volumes were lower than in 2021, we funded 183 crowdfunding offers during 2022 and remained financially profitable.
Please read more from our audited 2022 annual report, which can be downloaded from the link below: