Akka - Risk and return review
Akka - Returns and loss rates
Akka – Pros & Cons
About Akka
What it is
Akka is a members' club for investing in startups and pre-IPO companies, popular in Sweden and run by the French company Akka Europe SAS in Paris. It offers one or two selected deals a month. As of November 2026 it reports more than €30 million invested in more than 35 companies by over 4,000 investors.
How it works
You apply, are approved and pay for a membership (one year, three years or lifetime), then choose the deals you want. With the Starter membership you invest a fixed €300 per deal; higher tiers start at €1,000 per deal, with yearly limits from €2,000 to €100,000 depending on the tier. Your money goes into a special purpose vehicle that holds the shares in the company. Each deal comes with a pitch deck, Akka's analysis and a live question session with the founders, and you get quarterly updates afterwards.
Returns
Akka shows portfolio growth of 33% in 2025, based on the valuations of the companies' latest funding rounds (as of November 2026). This is a paper gain: nothing has been sold at that price, and the page does not say whether it is before or after Akka's fees. The home page also shows €40 million 'value today' against more than €30 million invested, about 1.33 times on paper. The 23% a year shown next to it is an industry average for venture funds, not Akka's own result. The first exit came in August 2026: the chief executive told the Swedish press in September 2026 that investors got about four times their money after just over a year on one deal. No realised average return is published.
Losses and defaults
Akka publishes no failures, write-downs or down-rounds in its portfolio (as of November 2026). It warns that startup investments are illiquid and carry a risk of total loss. With a portfolio built mostly since 2024, few companies have had time to fail or succeed.
What secures your money
Nothing secures your money. You buy shares in startups and pre-IPO companies, almost always through a special purpose vehicle that Akka sets up for each deal. If a company fails, you can lose everything you put in. Akka says it negotiates investor rights per deal, such as anti-dilution, liquidation preference and pro-rata rights, but these only help when there is value left to share. The capital is not guaranteed by the company, the vehicle, Akka or any guarantee fund, and the shares are not covered by the EU investor compensation scheme. Cash for an investment moves through Lemonway, for which Akka is a registered payment agent. If Akka stops operating, the French company Capsens is named to take over the running of existing investments.
Who runs it and its licence
The platform is run by Akka Europe SAS, 3 Rue des Renaudes, Paris, French company number 953 656 717. The French market regulator (AMF) authorised it as a European crowdfunding service provider on 15 March 2024, number FP-2024-9 (registered under its former name Blast Angels Europe), with a passport to 20 countries including Sweden. It is also registered with the ACPR, number 734551, as a payment agent of Lemonway.
Fees
Akka is expensive. You pay a membership fee (the cheapest plan is shown from €39 a month), a one-off structuring fee of 3% to 8% of each investment depending on your membership, and 5% of each investment is held back in the vehicle for its running costs; for some deals this can rise by up to 5% more. On any gain when a share is sold, Akka takes 15% for investments made from 16 March 2026 and 20% for earlier ones. Swedish press criticised the fee level in 2025 and 2026; Akka disputed one report on its membership prices.
Getting your money out
There is no secondary market on the platform. You wait for an exit: Akka says typically 1 to 3 years for pre-IPO companies and 3 to 6 years for early-stage startups, and its FAQ gives an average of 4 to 6 years. If you stop paying for membership, your investments stay in place but you lose access to new deals.
Our view
Return: Very High, because the platform shows 33% portfolio growth in 2025, but this is a paper gain on valuations and nothing realised is published. Risk: High (higher means more risk): no failures or write-downs are published and the shares are not secured. Risk-return: Low: one exit has been reported only in a press interview, paper gains are not realised, and high fees cut what reaches you.
Regulation
License / Regulation: Akka Europe SAS (French company number 953 656 717, formerly Blast Angels Europe) is authorised by the French market regulator (AMF) as a European crowdfunding service provider, number FP-2024-9, since 15 March 2024, with a passport to 20 EU and EEA countries including Sweden. It is registered with the ACPR, number 734551, as a payment agent of Lemonway. No deposit guarantee or investor compensation scheme covers the shares.
Functionality
For Investors
Useful Information
Yes. Akka Europe SAS has been authorised by the French market regulator (AMF) as a European crowdfunding service provider since 15 March 2024, number FP-2024-9, with a passport to 20 countries including Sweden.
Payments run through Lemonway, a French payment institution, for which Akka is a registered agent. Once invested, your money buys shares through a special purpose vehicle that Akka sets up for the deal.
With a Starter membership you invest a fixed €300 per deal. Higher tiers start at €1,000 per deal. You also need a paid membership.
Akka shows 33% portfolio growth in 2025 on the latest funding-round valuations; this is a paper gain. One exit, in August 2026, returned about four times the money according to the chief executive. No realised average return and no failures or write-downs are published.
Nothing. You own startup shares through a vehicle; if the company fails you can lose everything. Per-deal rights such as liquidation preference only help when value is left.
No. There is no secondary market on the platform. Akka expects exits after 1 to 3 years for pre-IPO companies and 3 to 6 years for early-stage startups.
A membership fee (from €39 a month for the cheapest plan), a one-off structuring fee of 3% to 8% per investment, 5% of each investment kept by the vehicle for running costs (up to 5% more on some deals), and 15% of any gain (20% for investments made before 16 March 2026).
Your shares are held in the deal vehicles, not by Akka. Akka has named the French company Capsens to take over running existing investments if it stops operating. No compensation scheme covers losses.
Swedish press reported in 2025 and 2026 that the membership and deal fees are high compared with the amounts invested. Akka disputed one report on its membership prices. Check the total cost before you join.
