“Summer is over, the winds are chilly, the startup world had an exciting week. The crowdfunding platform, Tőkeportal has closed its biggest successful campaign ever, OXO Group is going public and the fraudster who built the biggest fake startup, Theranos, may finally be sentenced. Exciting, isn’t it? Petya Balogh’s weekly summary.”

“Péter Balogh, one of the investors of the Hungarian version of Shark Tank, has started a series on Forbes.hu. Petya comments on the week’s important business news with his personal experiences on every weekend. Unfortunately, this time he also had to conclude that tolerance has been kicked again in Hungary, and although, he doesn’t care about football, he was also interested in the Coke-gate, not to mention the spying news..”

“This news also highlights the capital raising based on equity based crowdfunding, that is already emerging in Hungary. So, the more than HUF 41 million was raised by small and large investors through a website to really get this new solar marketplace off the ground.”

“Imagine if we had been there as small investors when Prezi or NNG was founded, or at the start of other successful companies! And we had invested only a small amount! We wouldn’t even have had to dig deep into our pockets back then. Tőkeportal has brought us the opportunity to invest capital as small investors in exchange for equity in companies with a big future.”

“On 12 August, the TRIP boat on Batthyany Square host a hybrid event on crowd finance, sustainable finance and impact investing, featuring a range of speakers and engaging the entire audience online, organised by Tőkeportál. International and national experts explored the development and regulation of crowd finance, its relationship with sustainable finance and impact investing. They also discussed ESG investing and the EU Green Deal, female founders and investors, as well as the Digital Prosperity Programme and the Hungarian National Bank’s fintech strategy.”

“To measure and showcase crowd offering in the face of the COVID-19 epidemic and the economic crisis it has created, Tőkeportál’s new equity crowdfunding platform, the Pledge Meter, offers a new indicator. Since the end of February, the number of business and social pledges has been increasing day by day, with more than 350 pledges and a market value of more than HUF 7 billion. These pledges are tracked, analysed and measured by the Tőkeportál indicator.”

“In recent years, it has become incredibly trendy to found startups, and to invest in them. But just because something is popular doesn’t mean it is a good investment. In this article, I will go through what you should expect if you invest in startups.”

“International crowdfunding platforms are nowhere near as helpful to Hungarian businesses as a domestic portal could be. Through Tőkeportál, startups that are not yet ready for venture capital and bank loans can find investors who in return receive shares.”

“The winners of the Best Startupper of The Year and the Startup Investor of The Year awards were announced at a special edition of Tokeportal.hu’s series of online pitches, at the Startups’ New Years’ Eve event aboard the Trip Ship, according to a press release sent to the Budapest Business Journal.”

“Tokeportal bills itself as the first Hungarian equity-based crowdfunding platform, and one of the pioneers in Central and Eastern Europe. The Budapest Business Journal spoke with business development manager Nóra Szeles about bringing the concept to Hungary.”

“The international Rotary Club Budapest-Center has successfully completed its campaign on Tokeportal.hu and raised more than HUF 1 million to support disadvantaged pupils in remote learning, according to a press release sent to the Budapest Business Journal.”

“The First Hungarian Quarantine Theater, located aboard the TRIP boat on the Danube, was established to offer entertainment online amidst the coronavirus shutdown, according to a press release sent to the Budapest Business Journal.”