Practical Guide to Crowdinvesting in Russia: How Entrepreneurs Can Attract Investments Through Investment Platforms, a Step-by-Step Plan, Mistakes, Features for IT Projects, and Market Analysis for 2025
The development of any startup, sooner or later, comes down to money. Bank loans for young companies are almost always associated with strict collateral requirements and frequent rejections, while venture funds rarely consider projects at the earliest stages.
One way to attract investments is through crowdinvesting. For the Russian market, this is still a relatively new tool, but its popularity is quickly growing. In this article, we will explore how crowdinvesting works, its advantages and risks, how an entrepreneur can navigate from idea to successful campaign, and the particularities of 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 into a single project. In return, they receive a share in the business and may also be entitled to dividends.
The crowdinvesting process works as follows:
- The entrepreneur registers on an investment platform.
- Prepares a project description and investment conditions: the required funding amount, minimum investment amount, fundraising term, expected return, etc.
- The platform conducts a basic verification of the company and documents.
- The project becomes available to the platform's users — potential investors.
- Investors decide whether to invest and the amounts involved.
- If the target amount is raised fully or partially, the funds are transferred to the company.
- Investors receive rights defined by contracts: shares, interest on loans, dividends, or a combination thereof.
Crowdinvesting transforms the search for one or two large investors into engaging with dozens and hundreds of individuals 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 opportunities to those who do not have access to funds and business angels but have a clear business model and a capable team.
Furthermore, the entrepreneur maintains control over the business. Large funds often require a significant share and sometimes control over key decisions. In crowdinvesting, the share is generally diluted among a large number of small investors.
Finally, crowdinvesting provides not just money, but also marketing. The project gains visibility among thousands of individuals from the platform's database, while the entrepreneur actively promotes the campaign through social media, media, and thematic communities, with investors acting as "brand advocates" sharing information with friends and colleagues.
As a result, you simultaneously achieve two objectives: attract capital and increase product recognition. Often, initial investors become the first users of the service or buyers of the product.
Legality of Crowdinvesting in Russia
Raising investments through registered investment platforms in Russia is entirely legal. 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 are required to enter the register of investment platform operators maintained by the Bank of Russia.
- Operators must meet capital requirements, internal procedures, IT infrastructure, and investor protection.
- Formalized relationships are established on the platform among the entrepreneur, investors, and the operator (through contracts, regulations, and offers).
As of the end of 2025, there are over 70 operators of investment platforms listed in the Central Bank's register. Working through such platforms reduces legal risks for both entrepreneurs and investors.
The law also regulates the amount of funds that users can invest. For instance, non-qualified investors can invest up to 600,000 rubles annually across all projects on investment platforms; there are no similar limits for legal entities.
Investment platforms are also obligated to provide truthful and complete information about the business, disclose key risks, and describe how the raised funds will be spent.
Distortion of facts, concealment of information, or knowingly false data can lead to administrative and criminal liability.
Popular Crowdinvesting Platforms in Russia
Below are several significant players in the market that entrepreneurs are actively using to attract capital.
Penenza. One of the leaders in the volume of funded projects. Since 2020, over 8 billion rubles in investments have passed through Penenza. The main focus is on technology companies, IT startups, and digital services. Strong analytical support for projects and well-established legal frameworks.
StartTrack. Primarily oriented towards early-stage projects (pre-seed, seed). Many projects in the IT and innovation sectors. An important feature is acceleration programs:
expertise in business models, assistance in product refinement, preparation for deals, and presentations to investors.
"City of Money". Works across a wide range of industries: IT, services, manufacturing, hospitality, real estate. Often attracts entrepreneurs with favorable placement conditions.
The platform actively helps package the project before launch:
"Aurora". A platform created by the "Voskhozhdenie" team — one of the notable venture players in Russia. It is focused on technology companies with significant revenue of over 300 million rubles per year. Closer to late-stage projects than startups from scratch.
How to Raise Money Through Crowdinvesting: Step-by-Step Plan
Step 1. Assess Project Readiness. Investors on crowd platforms want to see more than just an idea "on a napkin"; they expect at least a project presentation, financial model, team description, and its achievements. Having an operational product or at least an MVP, initial users, and revenue greatly increases the chances of successful fundraising.
Step 2. Choose a Platform. The audience and likelihood of closing the round depend on where you choose to launch. Evaluate the minimum and maximum investment amounts, average round sizes, specialization, requirements for the stage of company development, and service costs.
It is useful to study already funded projects on the platform within your niche. If the platform has successful cases that resemble yours, that is a significant plus. Don’t hesitate to contact the platform managers for advice and a 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 big is the market?
- How does the business earn — revenue sources, margins, economics?
- Who is on the team, and why are you the best choice to implement this project?
- How much money do you need and what will it be spent on?
- How will investors earn and in what timeframe?
Avoid overstating expectations for revenue and profitability without justification. Unbelievable figures can quickly raise red flags for experienced investors.
Step 4. Create a Video Presentation. Video enhances trust and conversion: projects with quality video presentations usually attract significantly more investments. The video’s goal is to evoke trust and interest, not to "sell everything right away." Details will be explored by investors in the documents.
Step 5. Launch and Actively Promote the Campaign. The first week after launch is critical. Statistics from similar markets show that if a project collects around 30% of its goal in 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 if they see others have already invested.
Particularities of Crowdinvesting for IT Projects
Technology projects often appear more attractive compared to traditional businesses. They generally represent a product that is understandable to the mass investor, with high scalability potential and rapid growth if the business model is successful.
Practice shows that the average investment size and total amount raised for IT projects are significantly higher than in classic "offline" niches, precisely because of expectations for high returns.
However, the demands on IT startups are also higher. Investors expect projects to have an MVP or a working version, a clear development roadmap, and a team with an IT background. Without this, raising investments will be challenging.
Therefore, showcase metrics that demonstrate progress:
- MAU (Monthly Active Users) — monthly active audience;
- CAC (Customer Acquisition Cost) — cost to acquire a single customer;
- LTV (Lifetime Value) — total revenue from a customer over the entire duration of their interaction with the product;
- Churn rate — percentage of users who left over a period.
- MRR (Monthly Recurring Revenue) — monthly recurring revenue;
- 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. Overvaluation of the business is one of the main reasons investors walk away. Analyze deals of comparable companies at your stage, taking into account real financial indicators and the risk profile of the project. Be prepared for discussions and justifications regarding the valuation.
It’s better to slightly concede on the valuation and secure capital than to stick to an inflated figure and not close the round at all.
Mistake 2. Rushed Campaign Without Preparation. Some entrepreneurs rush to get on a platform without prepared materials, a promotion strategy, and preliminary agreements with early investors. This is almost guaranteed to fail.
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'll need to share updates with investors, showcase the dynamics of key metrics, and provide progress on how funds are used, while staying in touch and answering questions.
Openness and honesty strengthen trust and enhance the chances of repeat investments in future rounds.
Alternative Ways to Seek Investments
Crowdinvesting is not the only path to funding. Venture funds can offer larger sums and expert support, but they often require a significant share of the company and insist on participating in management.
Business angels might be more flexible in their terms but are usually harder to find. They often invest in projects based on personal recommendations and networking.
Additionally, various government support programs are 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 rubles.
The main advantage of grants is that they do not require repayment. However, the process of obtaining grants may take months, and the reporting requirements can be quite strict.
You can combine different funding sources. For example, start with a grant for developing a prototype, then attract crowd investments for launching sales, and post-break-even, seek venture investments for scaling.
This approach minimizes dilution of the founders' stake and allows you to obtain optimal conditions at each stage of development.
What Lies Ahead for Crowdinvesting in Russia
Overall, the future of crowdinvesting lies in technology. The development of blockchain and smart contracts could revolutionize this sector. Tokenization of shares will create a secondary market where investors can sell their shares before a company goes public or is sold to a strategic investor.
Artificial intelligence is already being utilized to assess projects and predict their success. In the future, AI systems may automatically match projects to the risk profile of individual investors.
Key Takeaways from the Article
Crowdinvesting opens up opportunities for Russian entrepreneurs. It is not merely a way to raise funds — it is a chance to build a community of supporters around your project, validate your idea in the market, 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 adhering to best practices and learning from the mistakes of others significantly boosts your chances.
Start small: study successful cases in your industry, prepare a quality project presentation, and secure the support of initial advocates. Remember that every successful business started with a first step, and crowdinvesting could be the very tool that transforms your idea into a successful venture.
The crowdinvesting market in Russia is young and full of opportunities. Those who master this tool now will gain a competitive advantage in the future. Don’t delay — start preparing to attract investments today. Your future investors are already waiting for interesting projects, and your startup could become the next success story in Russian crowdinvesting.
