October reaches milestone of €1 billion
European crowdfunding platform October has facilitated one billion euros of funding. The platform focuses on provides funding to SMEs in Europe. Together, the companies that have received funds from the platform, generate a turnover of 25 billion euros and employ more than 90,000 people.
Over 43,000 retail investors
Crowdfunding platform October was founded in 2014 in France. With over 43,000 retail investors, who invest an average of 57 euros per project, as well as institutional investors, it is able to provide funding to SMEs in Europe. Last year, it took over its French competitor Credit.fr.
Over 60% of funding goes to SMEs with less than 50 employees.
According to the crowdfunding platform, more than 60 percent of its funding goes to SMEs with less than 50 employees. These companies have an average of 13 employees and an average turnover of 2.3 million euros.
Active in 5 markets
Now, the platform has facilitated 1 billion euros in funding across Europe. It is currently active in the Netherlands, Spain, Italy, and Germany as well. “As Chairman of October, I would like to extend my sincere thanks to all of our private and institutional investors”, said Olivier Goy, Chairman of October’s Supervisory Board. “Their trust and cooperation have played a vital role in our efforts to empower SMEs and drive economic progress. Together, we are making a difference.”
‘We are very proud of the scalability of our business model.’
“Our mission is to make a big impact with our funding. An impact on jobs, an impact on opportunities, an impact on transparency, an impact on sustainability, across Europe. Using technology and data, we have built a platform with a simple and transparent process. We are very proud of the scalability of our business model”, said Luuc Mannaerts, CEO of October Netherlands.