The operational license pertains to the execution of investment-based campaigns (campaign services) and enabling the secondary trading of crowdfunded securities. Currently, equity-based campaigns can be launched, which may include convertible loans and real estate-based campaigns.
- In equity-based campaigns, investors invest either directly into the Campaign Owner, or an intermediary company exclusively created for investing in the Campaign Owner business, or other European legal entities/SPVs, thus becoming shareholders with rights detailed in the Campaign Documentation.
- Real estate-based campaigns – distinguished from equity or future loan-based campaigns for marketing purposes –, specifically finance approved real estate developments. Legally, these are investments in the real estate developer’s project company, entitling the shareholder to a share of the property project’s utilization.
- Convertible loan campaigns provide a loan with the option for the Campaign Owner to repay with interest or convert it into shares upon a predetermined condition. Convertible loans are transferable and tradable.
- In loan-based campaigns (expected to launch in 2025), investors contribute with predetermined terms and interest payments. The loan agreement will be transferable and tradable.
- Secondary trading means that intentions to buy or sell crowdfunded shares are forwarded to customer service, processed, published within a deadline, and the requesting buyer and seller are connected.
Additionally, the platform can be used for:
- Launching donation-based campaigns: Non-profit organizations can launch campaigns where supporters receive no compensation, only possibly gifts. These campaigns are regulated by the Terms of Use of the Landing Website (TUW), as supporters don’t need to create investor profiles, only Campaign Owners.
- Developing incubation projects: Campaign Owners create these for projects not yet investment-ready, visible to mentors only, aiming for future campaign launches. Campaign Owners and team members must create investor profiles.
- Collecting likes for projects: Similar to incubation projects, participants of online or hybrid hackathons can manage projects on the platform, e.g., during the hackathon preparation period, projects are visible only to assigned, authenticated mentors and can become public on demo day to collect likes on the platform.
- Syndicating private projects: Syndication-based, private transactions enable pre-negotiated, private investments, efficiently executed online. These fully private investments do not appear in TokePortal’s communication or statistics. Participants must create investor profiles.
TokePortal’s services can be categorized into four groups:
1) Services for Campaign Owners:
– Reviewing enterprises and projects intending to launch campaigns.
– Concluding Campaign Launch and Collaboration Agreements (CLA) and assisting in preparing Campaign Documentation.
– Reviewing Campaign Documentation with experts (auditing, scoring).
– Examining the completeness of investor information (KIIS); responsibility for data accuracy lies with the Campaign Owner.
– Providing mentors through the Mentor Platform.
– Campaign management services.
– Providing one-time information services for capital increase and share issuance in successful campaigns.
– Organizing Lead Investors.
– Organizing transactional services.
– Communication collaboration.
– Operating an investor forum.
– Organizing investor meetings and general meetings.
– Supporting secondary trading.
2) Ecosystem development, crowd-building, and educational services for investor culture:
– Market building.
– Education and information dissemination.
– Event organization.
3) Building domestic and international professional communities:
– Founding member of the Hungarian Fintech Association (MAFISZ).
– Member of the European Crowdfunding Network (ECN).
4) Services for Investors:
– Ensuring investor protection rules as defined in the ECSPR.
– Guaranteeing the completeness of KIIS.
– Ensuring the revocability of preliminary commitments (DoC) until the end of the campaign.
– Providing information about the investment method and process.
– Customer service, chat support, and complaint handling.
– Facilitating information provision and follow-up for campaigns, ensuring general investor protection.