Crowdbase prepares to launch Moving Doors crowdfunding campaign

Crowdbase, an innovative platform that provides an alternative form of financing to entrepreneurial startups, is preparing to launch a new crowdfunding campaign, this time for Moving Doors – a PropTech (Property Technology) company that offers a wide range of high-end and technology-enabled homes that redefine the world of living.

Once open, anyone can invest in the venture capital-backed PropTech startup from just €100.

Frixos Larkos, Managing Director of Crowdbase, is “beyond excited” about the new campaign, telling CBN the company is confident it will achieve the minimum target of €100,000. He also reveals some new exciting projects coming up.

Crowdbase announced last week that it will be launching a new crowdfunding campaign for Moving Doors. Can you tell us more about this collaboration?

We are beyond excited to launch the crowdfunding campaign for Moving Doors, one of the hottest Cypriot startups at the moment. This collaboration allows us to support a very talented team that has shown exceptional growth and innovation in the PropTech sector. With investments starting at just €100, we are making it possible for the wider public to participate in the success of this rapidly expanding local company which they would not be able to under other circumstances. Crowdbase is committed to democratising investment in such promising ventures, and we are eager to see where this partnership will lead.

Are you expecting to meet the €100,000 target? What happens if you go over? Similarly, what happens if you don’t raise enough?

Absolutely, we are confident in achieving the minimum target of €100,000 for the Moving Doors campaign. Interest has been building over the past year—ever since the company was known as Staycaee—and many investors in our network have been eagerly anticipating this opportunity. This strong investor interest is largely due to the company’s extremely rapid expansion and very strong profitability KPIs. Our campaign has an upper limit of €430,000, and should we reach this maximum goal, the campaign will close immediately. On the other hand, if we do not meet the minimum target by the deadline, the campaign will be considered unsuccessful, and all investments will be refunded to the investors.

Do you have any other campaigns coming up?

Yes, thank you for asking! Following the Moving Doors campaign, we are preparing to launch another exciting opportunity, this time for Phi, our very first campaign for a Greek-based company. This campaign will mark our entry into the expansive and promising Greek entrepreneurship ecosystem. Phi is a pioneering 3D design software company, with €2m backing from Greek VC BigPi Ventures, that has developed entirely new mathematical models to transform and disrupt the way 3D objects are designed. We are extremely excited about this campaign and will be sharing more details soon. Those interested can register their interest by visiting the campaign page to be among the first to know when the campaign will launch.

How much money has Crowdbase raised for startups since it was established in 2020?

Since our official launch in October 2022, Crowdbase has successfully funded three campaigns amounting to over €1.25 million. We facilitated fundraising for two startups: easyBoat, which raised €470,000 from 141 investors, and Snap, which raised €210,000 from 44 investors. Additionally, we managed a real estate investment campaign for The Courtyard, which successfully raised €575,000. With Moving Doors, we are excited to present an investment that blends the rapid growth of a startup with the robust investment qualities of real estate, all within the growing PropTech sector.

It took a long time for Cyprus to get on the crowdfunding trend. How is the sector faring now? Have things improved?

Indeed, we've observed a growing familiarity with crowdfunding among Cypriot investors compared to our early days, but there is still substantial room for improvement. While crowdfunding has reached maturity in countries like the US, UK, and Israel, it is still in its infancy in Cyprus and in other parts of Europe. This scenario presents challenges, as we need to invest significant resources in educating the market. However, it also offers tremendous potential for growth. We are optimistic about the future, seeing this as an opportunity to pioneer and shape the crowdfunding landscape in Cyprus and beyond.