Crowdinvesting in Russia in 2025: Practical Guide for Entrepreneurs on Capital Attraction

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 growth of any startup sooner or later hits a financial wall. Bank loans for young companies are almost always tied to stringent collateral requirements and frequent refusals, while venture funds seldom consider projects at the very early stages.

One way to attract investments is through crowdinvesting. While this tool is still relatively new to the Russian market, its popularity is quickly rising. In this article, we will discuss how crowdinvesting works, its advantages and risks, how entrepreneurs can move from idea to a successful campaign, and the specific features related to IT projects.

What Is Crowdinvesting and How Does It Work

Crowdinvesting is a form of collective investment where numerous individuals and companies invest relatively small amounts in one project. In return, they receive an equity stake in the business and may be entitled to dividends.

The working mechanism of crowdinvesting is as follows:

• The entrepreneur registers on an investment platform.
• Prepares a project description and investment terms: the amount of funding required, minimum investment, fundraising period, expected returns, etc.
• The platform conducts a basic verification of the company and its documents.
• The project becomes accessible to platform users—potential investors.
• Investors make decisions on whether to invest and the amount.
• If the target amount is raised fully or partially, the funds are transferred to the company.
• Investors obtain rights defined in contracts: equity stake, interest on loans, dividends, or a combination thereof.

Crowdinvesting transforms the search for one or two major investors into working with dozens or hundreds of people willing to invest from several thousand to hundreds of thousands of rubles.

Benefits of Crowdinvesting for Entrepreneurs

One of the main advantages is accessibility and clear terms. Crowdinvesting offers a chance for those who do not have access to funds and business angels, but have a clear business model and team.

Additionally, the entrepreneur maintains control over the business. Major funds often require significant stakes or may demand control over key decisions. In crowdinvesting, shares are typically distributed among a larger number of smaller investors.

Finally, crowdinvesting is not just about money; it’s also about marketing. Thousands of people from the platform's database learn about the project, and the entrepreneur actively promotes the campaign on social media, in the media, and within thematic communities, while investors become "brand advocates," sharing information with friends and colleagues.

Consequently, you are simultaneously solving two tasks: attracting capital and increasing product awareness. Often, the first investors also become the first users of the service or customers of the product.

Legality of Crowdinvesting in Russia

Raising investments through registered investment platforms in Russia is completely legal. The operation of crowdinvesting is governed by Federal Law No. 259-FZ "On Attracting Investments Using Investment Platforms," which came into force on January 1, 2020.

Key provisions include:

• Platforms must be registered in the register of investment platform operators maintained by the Bank of Russia.
• Such operators are subject to capital requirements, internal procedures, IT infrastructure standards, and investor protections.
• Relationships on the platform between the entrepreneur, investors, and the operator are formalized through contracts, regulations, and offers.

As of late 2025, over 70 investment platform operators are listed in the Central Bank's register. Working through such platforms reduces legal risks for both entrepreneurs and investors.

The law also regulates the volume of funds that users can invest. Thus, non-qualified investors may invest up to 600,000 rubles annually across all projects on investment platforms; there are no such limits for legal entities.

Investment platforms, in turn, are required to provide truthful and complete information about the business, disclose key risks, and outline how the attracted funds will be used.

Distortion of facts, withholding information, or providing knowingly false data can lead to administrative and criminal liability.

Popular Crowdinvesting Platforms in Russia

Below are a few significant players in the market through which entrepreneurs are actively raising capital.

Penenza. One of the leaders in the volume of financed projects. Since 2020, over 8 billion rubles have flowed through Penenza. The main focus is on technology companies and IT startups, digital services, with strong analytical support for projects and well-established legal schemes.

StartTrack. Primarily oriented toward the early stage (pre-seed, seed). Many projects are from IT and innovation fields. An important feature is its acceleration programs:

expertise in business models, assistance in product refinement, preparation for a deal, and presentation to investors.

"City of Money". Works across a wide range of sectors: IT, services, manufacturing, catering, real estate. Frequently attracts entrepreneurs with favorable placement conditions.

The platform actively assists in project packaging before launch:

"Aurora". A platform created by the "Voskhoд" team—one of the notable venture players in Russia. Focused on technology companies with substantial revenues of at least 300 million rubles annually, more oriented toward later stages than startups from scratch.

How to Attract Funds Through Crowdinvesting: A Step-by-Step Plan

Step 1. Assess Your Project's Readiness. Investors on crowd platforms want to see more than just an idea "on a napkin"; at a minimum, a project presentation, financial model, team description, and achievements are required. Having a functioning product or at least an MVP, as well as initial users and revenue, significantly increases the chances of successful fundraising.

Step 2. Choose a Platform. Your choice of platform will influence your audience and the likelihood of closing the round. Assess the minimum and maximum investment amounts, average round sizes, specialization, stage of company development requirements, and service costs.

It is useful to study already financed projects in your niche on the platform. If the platform has successful cases similar to yours, that’s a significant plus. Don't hesitate to reach out to platform managers for consultation and preliminary assessment.

Step 3. Prepare an Investment Proposal. How you "package" the project is often more important than its current metrics. The documents must clearly answer several questions:

• What problem do you solve?
• 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 make money—revenue sources, margin, economics?
• Who is the team, and why are you better suited to execute this project than others?
• How much money do you need, and what will it go toward?
• How will the investor earn, and in what time frame?
  

Do not over-inflate expectations regarding revenue and profitability without justification. Unbelievable figures will immediately raise red flags for experienced investors.

Step 4. Create a Video Presentation. Video enhances trust and conversion: projects with high-quality videos typically raise significantly more investment. The goal of the video is to evoke trust and interest, rather than "sell everything right away." Investors will examine details in the documentation.

Step 5. Launch and Actively Promote the Campaign. The first week after launch is critical. Statistics from similar markets show that if a project raises around 30% of its goal within the first 7 days, the likelihood of closing the round is close to 90%.

The "first money" effect creates social proof: people are more willing to invest when they see that others have already contributed.

Features of Crowdinvesting for IT Projects

Technology projects often appear advantageous when compared to traditional businesses. Typically, they present a clear product that is understandable to the average investor, with high scalability potential and rapid growth rates if the model is successful.

Practice shows: the average investment amount and total volume of investments in IT projects are notably higher than in classic "offline" niches, primarily due to the expectations for high returns.

However, the requirements for IT startups are also higher. Investors expect that the project has an MVP or working version, a clear development roadmap, and that the team has an IT background. Without this, raising funds will be challenging.

Therefore, showcase metrics that demonstrate dynamics:

• MAU (Monthly Active Users) — monthly active audience;
• CAC (Customer Acquisition Cost) — cost of acquiring one customer;
• LTV (Lifetime Value) — total revenue from a customer during their interaction with the product;
• churn rate — percentage of users who left over a period;
• MRR (Monthly Recurring Revenue) — monthly recurring income;
• growth in revenue and user base;
• unit economics — profit/loss from one unit of product or user.
  

A clear demonstration of how you plan to lower 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. Overestimating the Company. Overvaluation is one of the main reasons investors pass by. Analyze deals of comparable companies at your stage, account for actual financial metrics and risk profiles. Furthermore, be prepared to discuss and justify your valuation.

It is better to slightly concede on valuation and secure capital than to stubbornly stick to an inflated number and fail to close the round at all.

Mistake 2. Rushing Campaign Without Preparation. Some entrepreneurs are eager to go live on the platform without thoroughly developed materials, promotional strategies, and preliminary agreements with initial investors. This is almost guaranteed to lead to failure.

Mistake 3. Lack of Communication with Investors Post-Fundraising. Many founders perceive closing a round as the finish line. In reality, it is only the beginning. You will need to share news with investors, show dynamics of key metrics and progress on the usage plan, maintain communication, and respond to inquiries.

Openness and honesty strengthen trust and increase the likelihood of repeat investments in subsequent rounds.

Alternative Methods for Seeking Investment

Crowdinvesting is not the only method for raising funds. Venture funds can offer larger amounts and expert support but usually require significant equity in the company and often insist on participating in management.

Business angels may be more flexible regarding terms, yet they are harder to find. They often invest in projects through personal recommendations and networking.

Additionally, various government support programs are available for innovative projects. For example, the Innovation Support Fund, the Russian Venture Company, and regional entrepreneurship support funds offer grants ranging from 500,000 to 20 million rubles.

The main advantage of grants is that they are non-repayable funding. However, the application process can take months, and reporting requirements are quite stringent.

It is possible to combine different funding sources. For instance, start with a grant for prototype development, then attract crowdinvesting for sales launch, and after reaching break-even, seek venture investments for scaling.

This approach allows you to minimize equity dilution for founders and obtain optimal conditions at each stage of development.

What Awaits Crowdinvesting in Russia

Overall, the future of crowdinvesting leans toward technological advancements. The development of blockchain and smart contracts may revolutionize this sector. Tokenization of shares could enable a secondary market where investors can 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 forecasting their success. In the future, AI systems may automatically match projects to the risk profiles of specific investors.

Key Takeaways from the Article

Crowdinvesting opens up opportunities for Russian entrepreneurs. It is not just a way to attract funds—it also provides a chance to build a community of supporters around your project, gain market validation for your idea, and create a powerful PR effect.

Success in crowdinvesting requires thorough preparation, honesty, and active communication with investors. There is no magic formula that guarantees success, but following best practices and learning from others’ mistakes significantly increases your chances.

Start small: study successful cases in your industry, prepare a high-quality project presentation, and garner the support of first supporters. Remember that every successful business began with a first step, and crowdinvesting could be the tool that turns your idea into a successful business.

The crowdinvesting market in Russia is young and full of potential. Those who master this tool now will gain a competitive advantage in the future. Don’t delay—begin your preparations for attracting investments today. Your future investors are already waiting for interesting projects, and your startup could become the next success story in Russian crowdinvesting.