Create an investment campaign

Creating investment campaigns

In order for the issuance to start you first need to create a campaign that terms under investors are able to invest. To do so click on the "Create investment campaign" button on the Campaigns page.

Create campaign dialog in the Cashlink Studio

Now, enter the terms for that campaign. The allocation controlls how many units should be sold in this campaign. The minimum and maximum limits adjust the investment amounts that are possible. In addition, you set a price specific for that campaign and a country that you want to target.

When the campaign has been successfuly created, you can use the URL of that campaign to direct investors to the investment process.

Creating personalized invitations

To create a personalized invitation navigate to the Invitations page and click on "Create investment invitation" on the top right corner. The create invitation modal opens and you can enter the investor's data. Please provide the following information:

  • Internal reference (e.g., the full name of the investor)

  • E-mail address of the investor

  • Units to be potentially bought by the investor

  • Price per unit for that particular investor

  • Residence country of the investor

  • The type of offering you want to use

Create invitation modal in the Cashlink Studio

Click on the "Create invitation" modal to create the invitation. You are then able to share the invitation link with the investor. The invitation link allows the investor to access a personalized invitation.

We do not send an automatic email to investors in order to allow you to fully customize the email or use any communication medium you want to use.

Share invitation dialog in the Cashlink Studio

You can sell securities to natural persons as well as companies. The investing person will choose how to invest during the investment process.

How is the company share calculated?

When you enter a certain maximum amount of securities the investor is able to purchase we calculate what share these securities would represent in the company. The calculation is as follows:

Use more currencies

The default currency for security purchases is Euro (EUR). You can also define other currencies for an invitation. To do so, please contact Cashlink to whitelist a currency for your account. The payable amount is then calculated using a fixed exchange rate set by you.

What type of offering should I use?

In general, if you intent to offer securities to investors in a country you need to follow certain rules set up by the national supervisory authorities. In Germany, the BaFin has outlined the most important information here.

The Cashlink Studio supports a wide variety of rule sets. They all work the same way: The Cashlink Studio warns you if there is a possibility that you would violate any of the provisions.

Important: Like all information in this document, this does not constitute legal advice. We report here only on best practices that have arisen. If you are unsure, please consult a lawyer.

We support the following rule sets

Rule set

Region

Description

Public offering

EEA

If you have created a prospectus admitted by the BaFin or any other supervisory authority within the EEA, you may issue securities within a public offering.

WIB below 1M

Germany

If you have created a "Wertpapier-Informationsblatt" (smaller version of a prospectus) admitted by the BaFin, you may issue securities up to a volume of EUR 1,000,000 within a public offering.

Private placement

EEA

You may issue securities without the provision of a prospectus to less than 150 persons per year and per member state of the EEA.

Minimum ticket size

EEA

You may issue securities to as many investors as you want without the provision of a prospectus if the minimum ticket size is EUR 100,000.00.

Only qualified investors

EEA

You may issue securities to as many investors as you want without the provision of a prospectus if offers are only accessible by qualified professional investors.

Private placement

Singapur

You may issue securities without the provision of a prospectus to less than 50 persons per year.

Minimum ticket size

Singapur

You may issue securities to as many investors as you want without the provision of a prospectus if the minimum ticket size is SGD 200,000.00

The decisive factor in all cases is really the offer, not the actual completion of the investment.

How to determine if someone is a qualified investor?

Companies are qualified investors if

  1. the main purpose of the entity is to invest in financial instruments or

  2. Two of the following three conditions are met:

  • Balance sheet total > EUR 20,000,000,

  • Revenues > EUR 40,000,000,

  • Own funds (as a rule = equity capital) > EUR 2,000,000

Private individuals are qualified investors if they meet two of the following three conditions:

  1. In the relevant area (venture capital and/or profit participation rights and/or crypto stocks), an average of ten transactions of significant size per quarter have been carried out during the last year,

  2. Bank balances and financial instruments with a total value of more than EUR 500,000

  3. Exercised a profession on the capital market for at least one year.

What defines an offer?

There are no precise rules for what constitutes an offer to an investor. Therefore, this must always be decided on a case-by-case basis.

This is not legal advice. If you are unsure, take a professional lawyer with you. We can put you in contact with our partner law firm, which also designed our legal framework.

General statements about the company are not an offer in terms of the WpPG. However, as soon as you make concrete statements about your issued security (e.g. price, valuation or other special legal terms) you will make an offer. Offers can be made verbally or in writing.

Best practice: In general it's okay to give information about your business for example during a pitch. If an investor wants to know more details that you would normally only grant access to after a non disclosure agreement has been signed, send them an invitation via the Cashlink Studio to make sure it's counted as an offer.