How to Invest in Startups in Cyprus and Greece

For years, startup funding rounds in Cyprus and Greece closed inside a small circle: founders, business angels and venture funds. If you lived in Nicosia or Athens and wanted to back a young local company, there was usually no way into the round.

That has changed. Since 10 November 2021, Regulation (EU) 2020/1503 on European crowdfunding service providers (ECSPR) has applied across the EU. It lets authorised platforms open funding rounds to individual investors anywhere in the Union, under common investor protection rules.

So how do you invest in startups in Cyprus and Greece? In short: through an authorised platform, you can invest, even with small amounts, in companies that meet the minimum due diligence requirements of Article 5 ECSPR. The minimum and maximum investment per investor account are set in each campaign's Key Investment Information Sheet (KIIS). But it is a high-risk, illiquid and long-term investment. Below we explain what you get, how it works in practice and what to check before you decide.

What you get when you invest in a startup

When you invest in a startup, you acquire a financial instrument issued by the company itself. Crowdfunding campaigns usually offer shares, convertible loan notes or redeemable preference shares.

• Shares: you become a shareholder and own a small percentage of the company.
• Convertible loan notes: you become a noteholder, and your investment converts into shares later, usually at the company's next larger funding round. The discount and the valuation cap for the conversion are agreed now. This structure is typically used where no lead investor sets the price. Our explainer on the convertible loan note covers it in detail.
• Redeemable preference shares: shares the company can buy back later, on the terms set out in the campaign's KIIS.

You only see a return if the company is bought, lists on a stock exchange, buys back shares or pays a dividend, and young companies rarely pay dividends. This often takes five years or more, and it may never happen. Our guide to understanding investor returns explains how each route works.

Three ways to invest in a startup

An individual can invest in a startup in three main ways:

None of the three routes reduces the risk of the company itself. What changes is the access, the amount and who makes the decision.

Step by step: how an investment through Crowdbase works

Crowdbase is authorised and regulated by the Cyprus Securities and Exchange Commission as a crowdfunding service provider (licence CSP 1/23) under ECSPR. The process has seven steps:

1. Register and verify your identity. You open an account and complete identity checks. Our campaigns are aimed at investors aged 18 or over who live in the European Economic Area (EEA).
2. Knowledge test and loss simulation. Everyone starts as a non-sophisticated investor. Before your first investment, you take an entry knowledge test and a simulation of your ability to bear loss, as Article 21 of ECSPR requires. The simulation shows what a loss equal to 10% of your net worth would mean for you. If you meet the criteria, you can ask to be classified as a sophisticated investor. Some of the protections below apply only to non-sophisticated investors.
3. Read the KIIS. Every campaign has a Key Investment Information Sheet. The project owner, meaning the company raising funds, prepares it, and Crowdbase checks that it is complete and clear before the campaign goes live. It sets out the instrument, the terms, the minimum and maximum investment per investor account, the risks and any fees and costs to investors. A cost that is not in the KIIS is not charged.
4. Invest. You choose the amount, within the limits set in the KIIS. If you are a non-sophisticated investor and the amount is above €1,000 or 5% of your net worth, whichever is higher, you receive a risk warning and must give explicit consent.
5. Pre-contractual reflection period. If you are a non-sophisticated investor, you can revoke your offer to invest within four calendar days of making it, without giving a reason and without penalty. Our Reflection Period policy explains how to revoke and how refunds work.
6. Your money waits for the close. Until the campaign closes, it is held separately from Crowdbase's own money. If the campaign does not reach its minimum target, the money is returned. It is not covered by any deposit guarantee or investor compensation scheme. Our Payment Service Providers policy has the details.
7. After the close. If the campaign reaches its minimum target, the funds are released to the company. On campaigns structured through a nominee, Crowdbase Nominee Services Limited holds the legal title on your behalf and exercises no discretion, and you hold the beneficial interest, for which you receive a certificate of beneficial ownership. Otherwise you are registered directly. Your rights are set out in the KIIS.

A recent example: MyStudentFlat

According to its campaign KIIS, MyStudentFlat is a Cypriot student housing company operating in Cyprus and Greece: it leases properties from owners, sub-lets them furnished to students and runs an online marketplace connecting students with verified accommodation. In 2026 it raised about €536,000 from 96 investors through a Crowdbase campaign, with a minimum investment of €100 per investor account.

Campaign investors received shares in the company (Ordinary Class B shares). Crowdbase Nominee Services Limited holds the legal title on their behalf, and each investor received a certificate of beneficial ownership.

That is what crowdfunding means in practice for an individual: access to a company's funding round, even with a small amount. It does not make the investment safer. The company can still fail, and every investor has to make their own judgement. The campaign has closed, and we mention it as an example, not a recommendation.

What to check before you invest

Before a campaign goes live we carry out the minimum due diligence ECSPR requires, but that is not a recommendation or a guarantee: read the KIIS and do your own research. Six questions help:

• The team: do the founders know the sector, and are they working on the company full time?
• The market: are there paying customers already, or only plans?
• The terms: which instrument do you get, at what valuation or valuation cap, and with what rights?
• The other investors: is an experienced investor taking part, and on what terms compared with yours?
• The money: where will the funds go, and how long will they last?
• The risks: what does the KIIS list as the main risks for this company?

Our startup investment checklist goes into each in more depth.

What to watch out for

• You can lose all of it. Many early-stage companies fail. Only invest money you can afford to lose, and read our page on investment risks.
• Your money is tied up for years. Shares in private companies are hard to sell, and there may be no buyer at any price.
• Your stake can shrink. When the company raises again, it issues new shares and existing shareholders' percentages fall (dilution).
• Spreading helps, but does not protect. Spreading your investments across several companies reduces your dependence on any one of them, but it does not remove the risk.
• Tax depends on where you live. Your own country's rules apply. Crowdbase does not provide investment or tax advice.

The bottom line

Investing in startups is no longer only for angels and funds. Through an authorised platform, you can take part in funding rounds, even with small amounts, and under common European protection rules, as long as you treat every investment as long-term and high-risk.

To see what a campaign looks like in practice, visit the Crowdbase investment page.

Frequently asked questions

How much money do I need to invest in a startup?

Each campaign sets the minimum and maximum investment per investor account in its KIIS, and the minimum is often low. If you are a non-sophisticated investor, for amounts above €1,000 or 5% of your net worth, whichever is higher, you receive a risk warning and give explicit consent.

Can I invest in startups if I live in Greece or Cyprus?

Yes. Crowdbase campaigns are aimed at investors aged 18 or over who live in the EEA. Under ECSPR, a provider authorised in one member state can offer its services in others once its regulator has notified ESMA and those countries' authorities. The countries where Crowdbase can offer its services, Greece included, are listed in its entry on the CySEC register.

When can I get my money back?

Usually only when the company is bought, lists on a stock exchange or buys back shares, which often takes five years or more and may never happen. Until then, selling your holding is difficult.

Can I cancel an investment after I make it?

If you are a non-sophisticated investor, yes: within the four-day pre-contractual reflection period you can revoke your offer to invest, without giving a reason and without penalty. Our Reflection Period policy explains how.

What happens if the startup fails?

You may lose part or all of the money you invested. That is why you should only invest what you can afford to lose.

Investing in financial instruments carries risk, and you may lose part or all of your invested capital. Ensure you understand the risks before investing.