(Alliance News) - CrowdFundMe Spa reported on Tuesday that it reported revenues of EUR530,000 in the first quarter compared to EUR345,931 in the same period last year, an increase of 53 percent.

The result stems primarily from growth in consolidated revenue, which stood at more than EUR9.7 million compared to EUR7.8 million in the first three months of last year.

"These figures show the ability of the CrowdFundMe group -- including its subsidiary Trusters, a real estate investment platform -- to increase profitability compared to funding: the latter grew by 24 percent while turnover grew by 53 percent," the company said.

The average investment saw an increase both on CrowdFundMe, from EUR5,454 to EUR6,652, and on Trusters, from EUR1,029 to EUR1,457, testifying to an improvement in investors' appetite for risk, due to both confidence in the two portals and the improved economic outlook. Finally, overall campaigns launched by the group also increased, to 32 from 26.

Among the rounds closed in the first quarter of 2024 on CrowdFundMe were CaSRevolution, an innovative startup operating in the healthcare market, which raised EUR1.3 million, with support from Utopia SIS. This transaction is part of the company's strategy to initiate and consolidate collaborations with institutional players and venture capital funds, which will be further developed in the coming months.

CrowdFundMe expects to continue its growth in the second quarter and second half of the current year. Among the current rounds, of particular note is that of Green Arms, an innovative startup that has already raised over EUR800,000 and enables citizens and businesses to participate in 100% renewable energy projects. This is a particularly strategic round as the clean energy sector is growing globally and is further accelerating in Italy thanks to support from government and institutions through incentives and funds, including those of the PNRR.

Tommaso Baldissera Pacchetti, CEO of CrowdFundMe, commented, "Achieving 53 percent growth in the first three months is a particularly significant achievement as it lays the foundation for building a solid year with forecasts of expansion for the rest of 2024 as well. Our strength lies in offering a full range of instruments to diversify the portfolio, from venture capital to real estate lending. In addition, we also remain active in the minibond segment thanks to the partnership agreement signed with Fundera, among the leading players in the sector in Italy."

"The general scenario ahead is encouraging, and CrowdFundMe will benefit from the expected expansion of the Venture Capital market and monetary policies, with central banks tending to lower the cost of money, favoring economic growth."

CrowdFundMe's stock is up 2.9 percent at EUR2.16 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

Comments and questions to redazione@alliancenews.com

Copyright 2024 Alliance News IS Italian Service Ltd. All rights reserved.