4 Questions for Conda
Our Interviewpartner: Dirk Littig, CEO of CONDA Deutschland GmbH
Why is Conda going to Switzerland?
CONDA has been established in the two core markets of Germany and Austria for years. We have repeatedly received numerous funding requests from Swiss companies. On the investor side, we also see a lot of Swiss people who want to invest in our campaigns right from the start.
It is in our DNA to understand our offer across borders. In Switzerland, there used to be a restriction of 20 investors per project or issuer from the banking ordinance. Since the lifting of this restriction, Swiss regulation has become much more crowd-friendly and we have found very good partners in the Braingelist team, so the decision to establish CONDA in Switzerland was not difficult.
How is the regulation different?
As already mentioned, the restriction of 20 investors per project contained in the banking regulation was dropped some time ago. In Switzerland, it is comparatively easy to offer equity-based crowdfunding – e.g. share issues or participation certificates. Up to CHF 8 million, this is possible without a prospectus. On the debt side, amounts up to CHF 1 million are easy to implement; above that, there could be a need for regulation on the issuer side. In general, Finma looks at platform models individually. If you want to make sure that you do not fall under Finma supervision, you have to submit a so-called “non-subordination request”.
What will the cooperation with Braingelist look like?
We deliberately chose a very cooperative approach when entering the Swiss market. The Braingelist team has the expertise in the local market and is very well connected there. We provide our technology as well as our years of experience in crowdinvesting. This is an excellent addition that is already off to a very successful start – shortly after the launch. Very recently, our Swiss colleagues launched the first campaign with dhp technology and have already collected over 700 TCHF in less than 2 days.
How do German investors benefit from the fact that the platform is also active in Switzerland?
By entering the Swiss market, we also enable German investors to invest in this attractive market. Due to the different legal framework, we can offer a wide range of instruments. Unlike currently in Germany, we are not limited to subordinated loans in Switzerland, but can also make investments in shares, participation certificates or bonds available.
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