Practical Guide to Crowdinvesting in Russia: How Entrepreneurs Can Attract Investments Through Investment Platforms, Step-by-Step Plan, Mistakes, Features for IT Projects, and Market Analysis for 2025
The development of any startup eventually hinges on financial resources. Bank loans for young companies are almost always tied to strict collateral requirements and frequent refusals, while venture capitalists rarely consider projects at the earliest stages.
One way to attract investments is through crowdinvesting. For the Russian market, this tool is still relatively new, but its popularity is growing rapidly. In this article, we will examine how crowdinvesting works, its advantages and risks, how an entrepreneur can navigate from idea to successful fundraising campaign, and what features apply to IT projects.
What is Crowdinvesting and How Does it Work
Crowdinvesting is a form of collective investment, whereby many individuals and companies contribute relatively small sums to a single project. In return, they receive a share in the business, as well as the potential to earn dividends.
The crowdinvesting process is as follows:
- The entrepreneur registers on an investment platform.
- Prepares a project description and the investment terms: amount needed, minimum investment, timeline for fundraising, expected return, etc.
- The platform conducts a basic verification of the company and its documentation.
- The project becomes available to the platform’s users — potential investors.
- Investors decide whether to invest and how much.
- If the target amount is raised fully or partially, the funds are transferred to the company.
- Investors receive rights stipulated in contracts: equity, loan interest, dividends, or a combination thereof.
Crowdinvesting transforms the search for one or two large investors into the opportunity to engage with dozens or hundreds of individuals willing to invest from several thousand to hundreds of thousands of rubles.
How Crowdinvesting Benefits Entrepreneurs
One of the main advantages is accessibility and clear terms. Crowdinvesting provides an opportunity for those who lack connections to funds and business angels but who possess a viable business model and a strong team.
Additionally, entrepreneurs retain control over their business. Large funds often require a significant equity stake, sometimes even control over key decisions. In crowdinvesting, equity is typically diluted among a larger number of smaller investors.
Finally, crowdinvesting is not just about raising funds; it also serves as marketing. Thousands of individuals from the platform's user base learn about the project, entrepreneurs actively promote the campaign on social media, in the media, and within niche communities, and investors become "brand advocates" who share information with friends and colleagues.
Consequently, you address two challenges simultaneously: attracting capital and enhancing product recognition. Often, early investors also become the first users of the service or products.
Legality of Crowdinvesting in Russia
Raising investments through registered investment platforms in Russia is fully legal. The operation of crowdinvesting is regulated by Federal Law No. 259-FZ "On Attracting Investments Using Investment Platforms," which came into effect on January 1, 2020.
Key provisions include:
- Platforms must be included in the registry of operators of investment platforms maintained by the Bank of Russia.
- Such operators are subject to capital, internal procedures, IT infrastructure, and investor protection requirements.
- Relations on the platform are formalized between the entrepreneur, investors, and operator (through contracts, regulations, and offers).
As of late 2025, more than 70 operators of investment platforms are listed in the Central Bank's registry. Operating through such platforms reduces legal risks for both entrepreneurs and investors.
The law also regulates the amount of funds that users can invest. For example, non-qualified investors may invest up to 600,000 RUB per year in all projects on investment platforms, while there are no such limits for legal entities.
Investment platforms, in turn, are required to provide accurate and comprehensive information about the business, disclose key risks, and describe how the acquired funds will be used.
Falsifying facts, concealing information, or providing false data can lead to administrative and criminal liability.
Popular Crowdinvesting Platforms in Russia
Below are several significant market players through which entrepreneurs actively attract capital.
Penenza. One of the leaders in terms of financed projects. Since 2020, Penenza has facilitated over 8 billion RUB in investments. Its primary focus is on technology companies and IT startups, as well as digital services. It offers strong analytical support for projects and well-established legal frameworks.
StartTrack. Primarily aimed at early-stage projects (pre-seed, seed). Many projects stem from the IT and innovation sectors. A notable feature includes acceleration programs:
expertise on business models, assistance in product refinement, and preparation for deals and presentations to investors.
"City of Money". Works with a wide range of industries: IT, services, manufacturing, hospitality, and real estate. Frequently attracts entrepreneurs with favorable placement conditions.
The platform actively assists in project packaging before launch:
"Aurora". A platform created by the "Voskhod" team — one of the prominent venture players in Russia. It focuses on technology companies with substantial revenues starting from 300 million RUB per year, leaning more toward later-stage businesses rather than "ground zero" startups.
How to Raise Money Through Crowdinvesting: Step-by-Step Plan
Step 1. Assess Project Readiness. Investors on crowdfunding platforms want to see more than just an idea on a napkin; at the very least, they want a project presentation, financial model, and team description highlighting achievements. Having an operational product or at least an MVP, along with first users and revenue, significantly enhances the chances of successful fundraising.
Step 2. Choose a Platform. The platform you choose will affect your audience and the likelihood of closing your funding round. Assess the minimum and maximum investment amounts, the average size of rounds, specialization, development stage requirements, and service costs.
It is helpful to study the successfully funded projects on the platform within your niche. If the platform has successful cases similar to yours, that is a significant advantage. Do not hesitate to reach out to platform managers for advice and preliminary evaluations.
Step 3. Prepare an Investment Proposal. How you present your project is often more crucial than your current metrics. The documents must clearly answer several questions:
- What problem are you solving?
- What does your solution look like, and how does it differ from competitors?
- Who is your customer, and how large is the market?
- How does the business generate revenue — sources of income, margins, economics?
- Who is on your team, and why are you the best to execute this project?
- How much money do you need, and what will it be used for?
- How will the investor earn, and within what timeframe?
Avoid inflating revenue and profitability expectations without justification. Unbelievable figures will quickly alert experienced investors.
Step 4. Create a Video Presentation. A video enhances trust and conversion; projects with quality video clips usually raise significantly more investments. The purpose of the video is to evoke trust and interest rather than to "sell everything at once." Investors will examine the details in the documentation.
Step 5. Launch and Actively Promote the Campaign. The first week after launching is critical. Statistics from similar markets show that if a project raises about 30% of its target in the first seven days, the likelihood of closing the round approaches 90%.
The "first money" effect creates social proof: people are more willing to invest when they see that others have already done so.
Features of Crowdinvesting for IT Projects
Technology projects often appear more favorable compared to traditional businesses. Generally, they present products that are easily understood by mainstream investors and have high scaling potential and rapid growth when the business model is successful.
Practice shows that the average investment amount and total volume in IT projects are considerably higher than in traditional "offline" niches, specifically due to expectations of high returns.
However, the demands placed on IT startups are also higher. Investors expect projects to have an MVP or a working version, a clear development roadmap, and background experience in IT. Without this, raising funds will be challenging.
Therefore, demonstrate to investors the metrics that can showcase dynamics:
- MAU (Monthly Active Users) — monthly active audience;
- CAC (Customer Acquisition Cost) — the cost of acquiring one customer;
- LTV (Lifetime Value) — total revenue from a customer over their entire interaction with the product;
- Churn rate — percentage of users lost over a given period.;
- MRR (Monthly Recurring Revenue) — monthly recurring income;
- Growth in revenue and user base;
- unit economics — profit/loss per product or user.
A clear demonstration of how you plan to reduce CAC, increase LTV, and improve retention helps investors assess the scalability and profitability of the project.
Common Mistakes in Crowdinvesting and How to Avoid Them
Mistake 1. Overvaluing the Company. Overestimating your business is one of the primary reasons investors pass by. Analyze deals of comparable companies at your stage and consider actual financial performance and the project's risk profile. Additionally, be prepared to engage in dialogue and substantiate your valuation.
It is often better to concede a bit on the valuation and secure capital than to stick with an inflated figure and not close the round at all.
Mistake 2. Rushing the Campaign Without Preparation. Some entrepreneurs hurry to launch on the platform without well-prepared materials, a promotion strategy, and preliminary agreements with initial investors. This is nearly a surefire recipe for failure.
Mistake 3. Lack of Communication with Investors After Raising Funds. Many founders view closing the round as the finish line. In reality, it is just the beginning. You will need to share updates with investors, demonstrate the dynamics of key metrics and progress regarding fund usage plans, and remain accessible for inquiries.
Openness and honesty strengthen trust and increase the chances of repeat investments in subsequent rounds.
Alternative Ways to Find Investments
Crowdinvesting is not the only path to securing funding. Venture capital funds can offer larger sums and expert support but often require significant equity stakes in the company and insist on participating in management.
Business angels may be more flexible with terms, but finding them can be challenging. They frequently invest in projects through personal recommendations and networking.
Various government support programs are also available for innovative projects. For example, the Innovation Promotion Fund, the Russian Venture Company, and regional entrepreneurship support funds offer grants ranging from 500,000 to 20 million RUB.
The main advantage of grants is non-returnable funding. However, the process of securing them can take months, and the reporting requirements are quite stringent.
Different funding sources can be combined. For instance, one might start with a grant for prototype development, then attract crowd investments for launching sales, and after reaching the break-even point, secure venture investments for scaling.
This approach minimizes the dilution of founders' equity and achieves optimal conditions at each stage of development.
What Lies Ahead for Crowdinvesting in Russia
Overall, the future of crowdinvesting is tied to technology. The development of blockchain and smart contracts could revolutionize this field. Tokenization of equity would create a secondary market where investors could sell their stakes before the company goes public or is sold to a strategic investor.
Artificial intelligence is already being utilized for project evaluation and success forecasting. In the future, AI systems may automatically select projects according to the specific risk profiles of individual investors.
Key Takeaways from the Article
Crowdinvesting opens opportunities for Russian entrepreneurs. It is not merely a way to raise funds; it is an opportunity to build a community of supporters around your project, gain market validation for your idea, and generate a powerful PR effect.
Success in crowdinvesting requires thorough preparation, honesty, and active communication with investors. While there is no magical formula that guarantees success, following best practices and learning from others’ mistakes can significantly increase your chances.
Start small: study successful case studies in your industry, prepare a quality project presentation, and garner support from early advocates. Remember that every successful business began with a first step, and crowdinvesting may be the very tool that turns your idea into a successful enterprise.
The crowdinvesting market in Russia is young and full of opportunities. Those who master this tool now will gain a competitive edge in the future. Don’t postpone — begin your preparation for attracting investments today. Your future investors are already waiting for intriguing projects, and your startup could become the next success story in Russian crowdinvesting.
