70000
investors
CONDA is an Austrian crowdinvesting group from Vienna, running since 2013, that raises money for small and medium-sized companies in Austria, Germany and Switzerland. Its old national sites now lead to one platform, CONDA Capital Market. It says it has financed more than 380 projects with about €300 million from more than 70,000 investors (October 2026). Most offers today are subordinated bonds of established companies, such as hotels and resorts, energy firms and technology companies; there are also share issues and profit-sharing loans.
You choose offers yourself, from €250 (some issues ask for more, for example €1,000 per bond). Most current offers are subordinated bonds that pay a fixed rate for three to ten years, typically five; the platform says bonds pay 5% to 9% a year, and offers open in October 2026 pay 9% to 10%. Some hotel bonds pay more if you take the interest as holiday vouchers, for example 7.25% in vouchers or 5.25% in cash. Your securities are digital tokens, held with an outside custodian and registrar. There is no automatic investing.
CONDA publishes no figure for what investors actually earned, on any of its sites. What it shows are fixed rates on new bonds and "expected average" rates on past campaigns. The highest of these is 68.54% a year, projected for Baierkraft, a subordinated loan of about five years that was fully funded; others shown range up to about 42%. These are forecasts that include a hoped-for bonus or growth component, not money paid. Independent tracking of the German offerings points to only 2 or 3 of 130 repaid in full and 2 closed at a loss (August 2026).
CONDA publishes no default rate, no count of insolvent companies, no figure for late payments and no recoveries, even though it is a licensed EU crowdfunding provider. Its risk page says investors often lose all their money because most young companies fail. Independent tracking of the 130 German offerings, based on court insolvency records, points to 42 to 47 companies (32% to 36%) with insolvency proceedings opened, and 10 more not paying interest or capital as planned (August 2026). In April 2026 the funded Austrian company QimiQ entered restructuring proceedings at the Regional Court of Salzburg with about €6.3 million of claims; ordinary creditors were offered 20%, and crowd investors rank behind them.
Nothing secures your money. The bonds and loans are unsecured and subordinated: if the company fails, every other creditor is paid first, so you should expect to get little or nothing back. There is no collateral, buyback, reserve fund or insurance. The platform checks each company before offering it, but publishes no lending standards or monitoring rules. Hotel bonds paid in vouchers are worth only as much as the hotel's ability to honour them.
CONDA Capital GmbH (Vienna) is authorised by Austria's financial regulator, the FMA, as a crowdfunding service provider under the EU crowdfunding rules since 22 September 2023, granted within the regulator's sandbox programme. Another group company, CONDA GmbH, runs the website. In Germany the group works through tied agents under another firm's licence. No regulator action against CONDA is known. Public review score 3.7 out of 5 (105 reviews, August 2026); the main complaints are learning about insolvencies late, poor communication and no way to sell.
The platform says there are generally no direct fees for investors; the companies raising money pay CONDA. It does not publish how much they pay, and that cost comes out of the money raised.
Usually you cannot sell early. CONDA has no secondary market: you must find a buyer yourself and agree a price, and some securities need the issuer's approval to be transferred. On a five- to ten-year bond, expect to stay until the end. Shares have no end date at all.
Return: Very High — the platform shows projected rates as high as 68.54% a year, but these are forecasts; current bonds pay 9% to 10% and no actual result is published. Risk: High (higher means more risk) — no default or loss figures are published, the bonds are unsecured and paid last, and independent tracking points to about a third of German offerings ending in insolvency. Risk-return: Low — the high figures are projections, with no published track record to back them.
License / Regulation: CONDA Capital GmbH (Vienna, FN 596688h) is authorised by the Austrian Financial Market Authority (FMA) as a crowdfunding service provider under Regulation (EU) 2020/1503 since 22 September 2023, granted within the FMA regulatory sandbox, for placing securities without firm commitment and receiving and transmitting orders. German business runs through tied agents under another firm's licence. No deposit guarantee or investor compensation scheme covers investment losses.
Yes. CONDA Capital GmbH is authorised by Austria's financial regulator, the FMA, as a crowdfunding service provider under the EU rules since 22 September 2023. In Germany the group works through tied agents. Regulation does not protect you from losing money on a company.
Payments are processed by Secupay. Your securities are digital tokens held by an outside custodian, Hauck Aufhäuser Digital Custody. Once invested, your money is with the company you backed.
€250, though some issues set a higher minimum, such as €1,000 per bond.
Bonds pay fixed rates, 9% to 10% on offers open in October 2026; past campaigns showed projected rates up to 68.54% a year. CONDA publishes no actual returns and no default or loss figures. Independent tracking points to 32% to 36% of 130 German offerings in insolvency proceedings and only 2 or 3 repaid in full (August 2026).
Nothing. The bonds and loans are unsecured and subordinated, so all other creditors are paid first if the company fails, and there is no buyback, reserve fund or insurance. In the 2026 QimiQ restructuring, ordinary creditors were offered 20% and crowd investors rank behind them.
Usually not. There is no secondary market: you must find a buyer yourself, and some securities need the issuer's approval to transfer. Expect to hold bonds for their full three to ten years.
The platform says there are generally no direct fees for investors. Companies raising money pay CONDA, but the amount is not published.
If a company fails, you rank behind its other creditors and may lose everything. Your securities are held by an outside custodian rather than by CONDA, but no deposit guarantee or compensation scheme covers your losses.
Some hotel bonds pay a higher rate in holiday vouchers, for example 7.25% in vouchers instead of 5.25% in cash. Vouchers are only worth something while the hotel can honour them, which is exactly when a subordinated investor is most at risk.
