No Borders, Big Gains: Why International Crowdfunding Platforms Are Winning

Based on "Internationalization of equity crowdfunding platforms" by Luca Farè & Silvio Vismara, The British Accounting Review (2025).

In a world where ideas can travel faster than freight and founders pitch from a phone screen instead of a boardroom, equity crowdfunding (ECF) has evolved beyond local startup ecosystems. It’s now a global phenomenon. But what separates a struggling crowdfunding site from one that thrives on the international stage? 

The answer may surprise you: it’s not just tech, traction, or talent. It’s trust — and sustainability. 

New research spanning 317 ECF platforms across Europe by Luca Farè and Silvio Vismara of the University of Bergamo reveals that international platforms significantly outperform their domestic counterparts. Why? Because going global does more than diversify investor bases. It forces platforms to step up their game — particularly on environmental, social, and governance (ESG) issues. 

Platforms with foreign shareholders — think of them as digital diplomacy agents — are more likely to adopt ESG practices. And that’s a game-changer. ESG isn’t just a corporate buzzword anymore; it’s a magnet for modern investors, especially the younger ones who are backing not just returns, but responsibility. 

This international-ESG link isn’t just correlation. It’s causation. According to the researchers, ESG mediates the success of international platforms. It’s the bridge that turns cross-border exposure into real investor interest. Platforms like Seedrs and Crowdcube, which operate across dozens of countries, aren’t just geographically diverse — they’re value-aligned with a new generation of impact-driven backers. 

And regulators are taking note. The EU’s new European Crowdfunding Service Providers (ECSP) regulation doesn’t just make it easier to go cross-border — it raises the ESG bar for everyone. 

So what does this mean for platforms like CrowdedHero or startups hoping to raise capital in 2025? Think beyond borders — and beyond balance sheets. Because in equity crowdfunding, internationalization without values is just noise. But when you combine global reach with ESG integrity, you get a platform that doesn’t just survive — it scales.