By resolution of November 8th, after hearing the favourable opinion of the Bank of Italy, Consob authorized Doorway as a platform for raising capital online, pursuant to the new European Regulation.
Doorway, which already has an office in Brussels, is among the first authorized companies to have already received a passport for a European country, Belgium.
Milan, November 21th 2023
The new European regulation for crowdfunding services (ECSP) officially comes into force today, replacing the Italian legislation and will allow platforms that have received authorization – particularly stringent standards and selection criteria to receive it – to operate according to a unified regulatory framework throughout Europe. The underlying objectives of the legislation are to create a more competitive single market and better protect non-professional investors.
Doorway has obtained the authorization and will now be able to receive the “European passport” to operate in other EU countries. Internationalization is one of Doorway’s development strategies, which has been operating since the beginning of 2023 with an office and a team in Brussels and has therefore already obtained a passport to operate in Belgium.
Doorway investor protection is a fundamental element of the Doorway model, which has chosen to adopt the most prudent line, to better protect those who invest on its platform. Doorway will therefore identify all investors as not sophisticated (the new regulation distinguishes between sophisticated and not sophisticated), with the increased protections that the regulation provides for this category, including the right to reconsider within 4 days. The ECSP regulation requires the investor to take an Entry Knowledge test aimed at assessing the understanding of risk, experience, financial situation, investment objectives; the ability to bear any losses will also be assessed, through a special simulator.
In line with the objectives of greater professionalism, clarity and transparency required by the European regulation, Doorway also chose a few months ago to change its organizational structure by transforming itself into a joint-stock company, with a structured governance model, guaranteed by members of the Board of Directors and the Board of Statutory Auditors of high professionalism and experience.
“This is a period of change and growth for the sector in which we operate. The start of a season in which only platforms that have passed the strict authorizations of Consob and the Bank of Italy will be able to continue to operate. We are convinced that this new scenario will allow the best companies in our country to deal with a European dimension that will accelerate their growth path, on the one hand, and on the other hand will guarantee private investors greater selection and protection. For Doorway, the authorization finally marks the start of the internationalization process, consistent with our mission to promote the development of a sustainable and innovative economy, through the leverage of private investments” said Antonella Grassigli, founder and CEO of Doorway.
DOORWAY
Doorway SPA Società Benefit (www.doorwayplatform.com) is an innovative Italian fintech, which enables direct investment in Venture Capital by private and corporate investors, through a Consob-authorized technology platform. Doorway offers its community of investors a highly selected number of Italian and international startups and scaleups, evaluated according to the criteria used by Venture Capital and, among the few in Italy, based on social impact and sustainability according to ESG criteria. Operational since 2019, Doorway has channeled investments of over €25 million in 37 innovative companies, more than half of which are led by women or with significant social or environmental impact. Doorway collaborates with business angel clubs, accelerators, incubators, Italian and international VCs and with financial advisors specialized in listing on the European Growth Market, with the aim of encouraging the rapid development of the startups invested and accelerating the creation of value for investors.