173rd mBank-CASE Seminar Proceedings: Place of crowdfunding in financing investment projects in Poland

Publications

9 Mar 2023

Trade & Macro

mBank – CASE Seminar Proceedings

Marcin Czugan

Michał Karwasiński

Jarosław Mizera

Ewa Balcerowicz

Download publication

Marcin Czugan
Michał Karwasiński
Jarosław Mizera
Ewa Balcerowicz
Chairwoman of CASE Supervisory Council (July 2008-present) and mBank-CASE Seminars Project Manager

Articles from this author:
- 185th mBank-CASE Seminar Proceedings: AI as a Tool for the Sustainable Transformation of Agriculture
  The study contributes to the ongoing discourse on the future of Agriculture 4.0 and underscores the need for cross-sectoral cooperation, digital competence development, and responsible innovation in the agri-food sector. The publication also calls for an integrated approach combining engineering, ecological awareness, and public policy to ensure that AI becomes a tool for the common good.
- 182nd mBank-CASE Seminar Proceedings: Polish and Ukrainian Agriculture in a Common Europe
- 180th mBank-CASE Seminar Proceedings: BNPL: Buy Now Pay Later. Deferred Payment– An Established Idea Gaining Traction
  The publication examines the growing popularity and implications of the Buy Now, Pay Later (BNPL) financial model in Poland and globally. It features expert analyses and discussions from a seminar held on March 14, 2024, including insights from key players like PayPo, PKO BP, and the Credit Information Bureau (BIK). The publication focuses on: BNPL Evolution and Success: Originating in Sweden, BNPL has transformed global online shopping, offering deferred payment options as an alternative to credit cards. Poland's BNPL market, still in its infancy, shows rapid growth due to firms like PayPo, Twisto, and Allegro Pay. Comparison with Credit Cards: Unlike credit cards, BNPL offers simpler, targeted transactions that resonate with younger demographics and more women. It avoids the complexities and high fees associated with traditional credit cards, fostering higher adoption rates. Polish Market Dynamics: By the end of 2023, nearly 2 million Poles had used BNPL, representing 12% of active borrowers. PayPo leads the market with innovative features, while PKO BP introduces seamless banking integration for deferred payments. Challenges and Growth Potential: Despite its success, establishing a universal BNPL business model remains challenging. However, its consumer-centric approach signals continued growth, especially as it aligns with modern purchasing behaviors. The report provides a nuanced understanding of how BNPL reshapes financial landscapes, blending fintech innovation with traditional banking.
Author’s articles

Crowdfunding for business ventures, commonly referred to interchangeably as investment crowdfunding or equity crowdfunding, is a young practice. It first appeared in the USA (in 2009), and is now a rapidly expanding market in developed economies. The first case of investment crowdfunding in Poland, historically the first issuance, took place in 2012, barely three years later than in the United States.

Such crowdfunding is a form of raising capital from the market (from investors) for the development of companies by entrepreneurs or owners, acting as the issuers. Specialised companies (fintechs) creating so-called crowdfunding platforms for matching demand with supply – and where offerings are announced and transactions carried out – are the market’s intermediaries. The report we are releasing discusses the specifics of investment crowdfunding, or in other words how this form of raising funds differs from older forms of external financing for businesses. It also presents the potential and the role of crowdfunding for the development of the capital market in Poland, describing demand for this type of financing, the level of interest among investors, and what both demand and interest depend on. In November 2021, European regulations were introduced specifically for this new market. Our authors analyse how these regulations will affect the future of equity crowdfunding in Poland.

This issue of mBank-CASE Seminar Proceedings, on crowdfunding in Poland, follows on from a seminar held in March 2022. Three guests at the seminar were experts participating directly in the development of this new component of Poland’s capital market, therefore possessing unique knowledge of the specifics of crowdfunding, and its strengths and limitations.

Related publications

No results

173rd mBank-CASE Seminar Proceedings: Place of crowdfunding in financing investment projects in Poland

Marcin Czugan

Michał Karwasiński

Jarosław Mizera

Ewa Balcerowicz

Articles from this author:

Related publications

Thanks for joining us!

Join the community of informed readers. Subscribe to our newsletter.