Overview of Fellow Funders

Fellow Funders is a Spanish equity crowdfunding and alternative investment platform launched in 2017, connecting investors with startups and real estate projects 📈. The platform’s model allows retail investors to co-invest in high-potential startups, scale-ups, and property developments alongside other backers, typically starting from €500–€1,000 minimum per project. As an authorized crowdfunding provider (licensed by the CNMV since December 2016), Fellow Funders emphasizes transparency and investor trust ✅. Investors are drawn by the prospect of attractive returns from early-stage companies and property flips, but must accept significant risks: these investments are illiquid and high-risk, with a real possibility of loss of the entire capital ⚠️. In summary, Fellow Funders offers a regulated avenue to invest in alternative assets with potentially high rewards, balanced by substantial risks and long holding periods (no secondary market for early exit).

Fellow Funders Investment Products and Model

Product Offering: Fellow Funders operates as a multi-vertical crowdfunding platform, primarily facilitating equity investments in Spanish startups and small businesses, and since 2021 also funding real estate projects (e.g. property development and “house flipping”) 🏠. Investors purchase equity stakes either directly in the company or via a special purpose vehicle (for example, property deals use an SPV that holds the assets). Returns are generated through capital gains if a startup grows and is acquired or goes public, or if a real estate development is completed and sold for profit – for instance, a recent residential project in Ibiza targets a 41% total return over ~32 months (about 13% annualized). Real estate investments on the platform typically offer 15–20% returns in 1–2 years, reflecting the sale profit of renovated properties, whereas startup investments have uncertain outcomes (potentially very high returns in case of success, but also a high chance of failure yielding zero). The legal structure follows Spain’s crowdfunding regulations: Fellow Funders acts as an intermediary, with investors becoming shareholders of the target business (or an SPV) once a funding round closes. The platform focuses on Spanish companies and projects across diverse sectors – it is sector-agnostic, featuring everything from tech and biotech startups to real estate and renewable energy deals. Typical investment parameters include minimum tickets of a few hundred euros (often €500+), no formal maximum per investor (though large investments may be subject to additional suitability checks under EU rules), and project durations ranging from around 12–24 months for real estate to 5–7+ years for startup equity. All major risk factors are present: startups can fail (risking total loss), projects are illiquid (no secondary market to sell stakes), and returns are not guaranteed (investors may need to wait years for a potential exit). The platform prominently warns that investors should diversify and only invest money they can afford to lose, underlining that despite careful project selection, loss of the entire investment is possible ⚠️.

Fellow Funders Company Background and Regulation

Founders and Team: Fellow Funders was founded by Francisco Mariscal (CEO) and Guillermo Azqueta in Madrid, and its leadership includes seasoned finance professionals (including former Santander Bank executives) 👥. The company positions itself as an independent fintech firm with a mission to support SMEs and startups in their growth by providing alternative funding and valuation services. In late 2021, Fellow Funders merged with several other fintech firms (crypto platform 2gether, tech studio Tadaima, etc.) to form the Orbyn Group, expanding its offerings into crypto and corporate finance and bringing on 2gether’s CEO as co-CEO of the new group. Fellow Funders operates under the legal entity Fellow Funders P.S.F.P., S.A., which is authorized and regulated in Spain – it became a registered “Proveedor de Servicios de Financiación Participativa” (crowdfunding service provider) with the Spanish CNMV in November 2022 under the new EU crowdfunding framework (current CNMV registration number: #2). The platform and its subsidiaries are headquartered in Madrid (Calle Lagasca 120) and also maintain an office in Barcelona. Regulation and Licenses: Fellow Funders is supervised by the CNMV (Comisión Nacional del Mercado de Valores) and complies with the European Crowdfunding Regulation (EU Reg. 2020/1503) as well as Spain’s recent Law 18/2022 on crowdfunding. This regulatory status means the platform adheres to investor protection rules – for example, retail investors must complete knowledge questionnaires and acknowledge risks, and project funding is capped at €5 million per offering (the EU limit). There is no banking license (Fellow Funders is not a depositary institution), but client funds are handled via segregated accounts with an authorized payments provider until investments are executed, as per regulation. The ownership structure has evolved: Fellow Funders is now part of Grupo Orbyn, a larger fintech holding that also includes another equity platform (Dozen Investments) and other financial service units. The group’s combined resources have bolstered Fellow Funders’ capabilities, allowing it to incorporate specialized divisions (e.g. a Real Estate team led by industry veterans like Jorge Estévez from Gilmar) and to explore international expansion (the company hints at future expansion into nearby European markets like France and Portugal in coming years)🌍. Importantly for investors, Fellow Funders is fully regulated and in good standing – as of 2025 there have been no regulatory sanctions or warnings against the platform, and it operates under CNMV oversight with all required investor safeguards in place.

Fellow Funders Funding Volumes and Performance Results

Funding Track Record: Fellow Funders has grown into one of Spain’s leading crowd-investment platforms in terms of volume. As of early 2024, the platform reports over €60 million total capital raised for 90+ projects since inception, with more than 50,000 registered users (“fellowers”) on the platform. This is a substantial increase from just a few years prior – for example, by the end of 2020 the company had funded ~37 rounds with about €20 million total, then roughly €11.5 million in 15 deals during 2021, reaching ~€30 million cumulative by the start of 2022. The addition of the real estate vertical in 2021 significantly boosted volumes: the Real Estate division alone transacted €21 million in 2022 (its first full year) according to industry reports, accounting for roughly 60% of that year’s crowdfunding volume. By late 2024, Fellow Funders’ own figures suggest the momentum continued – the platform stated it had surpassed €80 million raised in total (likely reflecting a few large property deals in 2023–2024) 🤯. In terms of number of investors, the community has expanded rapidly: about 15,000 new users joined in 2020 alone, and the platform crossed 50k users by 2024. Many of these are active retail investors, though the platform also attracts some high-net-worth and institutional co-investors in larger rounds.

Investor Returns: Given the long-term nature of equity investments, concrete performance data for investors is still emerging. A few success stories have materialized: for instance, investors in CF Intercity (a football club) saw the company become the first crowdfunded club to list on a stock exchange (BME Growth in 2021–2022), providing a liquidity event and potential upside for early backers. However, many startup investments remain in progress (it often takes 5+ years to realize an exit), and some inevitably fail – a notable example is the fintech startup 2gether, which raised a record €1.5M on Fellow Funders in 2020 but later collapsed in 2022 amid the crypto downturn, likely resulting in a total loss for those investors 🚩. The platform does not publish aggregate default or loss rates for startup investments, since “default” in equity means business failure; anecdotal evidence suggests that while several portfolio companies have grown or achieved follow-on funding, others have shut down (underscoring the high risk). For the real estate projects, outcomes are more immediate: many property deals funded in 2021–2022 have completed and returned capital to investors with profits. Fellow Funders highlights that all six real estate projects launched in 2021 were successful, delivering average investor returns on the order of 15–20% as projected. As of mid-2025, the platform’s average realized returns for real estate deals are in the mid-teens (annualized), while equity startup investments vary widely (some yielding no return, others potentially aiming for multi-fold returns if their business plans succeed). The highest funding volume project to date was a €4.7M round for a luxury property development (Sotogrande 2023), demonstrating the platform’s capacity to fund large deals. It’s important to note that past performance is not indicative of future results – given the young portfolio, investors should expect that some investments will generate positive returns (via acquisitions, dividends, or IPOs) in coming years, while others will result in partial or total losses. Fellow Funders itself sets a goal to reach €100 million funded by 2027 and to continue improving its success stories .

Fellow Funders Risk Approach and Management

Project Selection: Fellow Funders employs a rigorous vetting and due diligence process to curate the opportunities listed on the platform. Every potential project undergoes in-depth analysis by an internal team of financial experts, including quantitative scoring and valuation modeling 🔍. In fact, the platform uses a proprietary rating system that evaluates startups on multiple criteria and assigns a score from 0 to 100 – only those ventures scoring above a threshold (65/100) pass and are presented to investors. This means only a small fraction of applications make it to the marketplace, ensuring a relatively high bar for quality and viability. Fellow Funders also integrates ESG (Environmental, Social, Governance) factors into its analysis; the team has stated that ESG indicators are considered as key criteria when selecting projects.

Due Diligence Process: For startups, the due diligence typically covers evaluation of the founding team, business model, market opportunity, financial projections, and an independent Fair Value assessment (Fellow Funders has a “Fair Value” division specializing in company valuations). For real estate deals, the team assesses property appraisals, development plans, permits, and the track record of the developer (for example, many real estate projects have been done in partnership with Re-Aviva, a proven developer). Only when a project clears internal investment committee approval does it go live on the platform. This upfront filtering is a key risk management step – historically, over 90% of proposals are rejected or require improvements before listing.

Risk Ratings and Monitoring: Fellow Funders does not publicly assign a simple risk grade to each project, but the thorough analysis effectively acts as an internal rating. Startups that list often include a summary of the score or key strengths/risks identified, giving investors insight into the due diligence findings. Once funded, the platform maintains ongoing monitoring of each project. Companies are often required to provide regular updates to investors through the platform’s dashboard (e.g. quarterly reports or milestone updates). Fellow Funders also organizes periodic “Investor Days” where portfolio startups present their progress directly to investors, enhancing transparency and allowing investors to gauge how projects are developing. The platform’s team keeps track of performance and will flag any serious issues to investors (for instance, if a company pivots or faces financial difficulties). In the case of real estate, investors receive construction progress reports and notices when a property is sold.

Risk Mitigation Tools: While no crowdfunding investment is risk-free, Fellow Funders’ approach is to mitigate risk through diversification and education. The platform strongly encourages building a diversified portfolio across different companies and sectors, which can spread risk – this is reflected in the variety of deals on offer (tech startups, biotech, consumer products, real estate, renewable energy, etc.). Additionally, there are no leverage or derivatives involved – investments are direct equity, avoiding the added risks of debt or margin. Fellow Funders also abides by regulatory limits (under previous Spanish law, non-accredited investors were limited in how much they could invest per project; under the new EU regulation those limits are lifted, but investors must complete an appropriateness test and explicitly acknowledge the risks for larger investments). Importantly, the platform itself does not invest its own capital in the projects (and the new rules explicitly prohibit platforms from doing so to avoid conflicts of interest), ensuring that Fellow Funders remains an impartial intermediary. There are no guarantees or insurance on investments – if a company fails, investors bear the loss. However, the structured vetting process, plus guidance like risk warnings and suggested diversification, are meant to manage the inherent risks in this asset class. Overall, Fellow Funders’ risk management is focused on front-end project selection and investor awareness, rather than risk elimination (since by nature, early-stage investment risk cannot be fully eliminated).

Fellow Funders Platform Features and Functionality

User Interface: Fellow Funders provides an intuitive web platform and a dedicated mobile app (available on iOS and Android) for investors to browse opportunities and manage their portfolios . The interface is modern and user-friendly: investors can filter projects by category (e.g. technology, real estate, etc.), view detailed profiles for each investment opportunity, and execute investments through an online checkout process. There is an investor dashboard that offers 24/7 access to one’s portfolio, showing the list of projects invested in, amount invested, and updates on each deal. The platform sends notifications (or push alerts via the app) when there are new investment opportunities or important updates on projects, which helps investors stay informed in real time. Navigation is generally smooth and available in Spanish (the primary language); an English version of the platform is partially available via the Orbyn site, though the main investment flow is catered to Spanish-speaking users at the moment.

Investment Process: All investments on Fellow Funders are done manually and deal-by-deal – there is no auto-invest feature or robo-allocation, which is typical for equity crowdfunding (investors are encouraged to select each deal after reviewing the information). When a user decides to invest, funds are pledged and collected through secure payment (often via bank transfer or card to a custodial account) and only charged if the funding round meets its minimum goal. The platform supports escrow of funds during the campaign and a refund if the round doesn’t reach the minimum target (ensuring investors don’t lose money on unfunded campaigns). There is currently no secondary market or internal marketplace for reselling investments – as noted, liquidity is a pain point (investors must generally hold until an exit like a buyout or IPO occurs)todocrowdlending.com todocrowdlending.com. However, Fellow Funders recently introduced a “private rounds” service where companies can invite specific investors via the platform for off-line fundraising; while this isn’t a secondary market, it broadens the use of the platform’s infrastructure for different deal types.

Diversification Tools: To help investors diversify, Fellow Funders often batches investment opportunities and even runs themed programs. For example, it has separate verticals or sections on the site for Real Estate, Technology Startups, Biotech/Healthcare (it has partnered in the past with biotech accelerator programs), and even a new Photovoltaic (solar energy) investment division launched in 2022. This allows users to diversify across asset types. The platform does not automatically balance your portfolio, but it provides education (via blog articles and FAQs) on the importance of diversification. There is also a referral program: users can refer new investors and receive up to 2% cashback in the form of investment credits, which is an incentive to grow the investor base while giving existing users a bit extra to reinvest.

Reporting and Updates: Fellow Funders prides itself on keeping investors informed before, during, and after investment. Each project listing includes downloadable documents (business plans, financial forecasts, risk warnings) and an “Investor Deck” or video pitch. During fundraising, investors can ask questions (there is often a Q&A section or forum for each campaign). After funding, the platform facilitates communication: periodic project updates are posted to investors’ accounts, and some companies hold webinars or in-person meetups (the platform’s Investor Day events mentioned earlier). Investors also receive annual reports or at least summary statements from the startups they invested in, as required by law. Additionally, Fellow Funders provides tax reports: at each year’s end, investors can access a summary of their investments for tax declaration purposes (especially useful since Spain offers certain tax deductions for startup investments). The mobile app and website both implement strong security features, including two-factor authentication and biometric login options, to protect user data and accounts. The platform supports transactions in euros (€) only, and at present supports individuals from Spain and other EU countries (investors outside Spain can register, though they may need to obtain a Spanish NIE/tax ID to invest, as explained in platform FAQs). Customer support is available via email and phone, and response times are generally reported as prompt and helpful. In summary, the platform offers a comprehensive feature set focused on ease of use, transparency, and keeping investors engaged throughout the investment lifecycle.

Fellow Funders Platform Pricing and Fees

Investor Fees: Fellow Funders operates with a very transparent pricing model and notably does not charge fees to investors for using the platform 🎉. There are no account opening fees, no maintenance fees, and no direct commission taken from investors’ returns – 100% of any profits from an investment go to the investor (minus any applicable taxes). The platform explicitly states that it has “no hidden fees or clauses” for investors. Investors can browse deals, invest, and hold their investments fee-free; the only potential costs might be external (for example, a bank might charge a transfer fee, or if you are investing from a non-euro country you might have currency conversion costs, but Fellow Funders itself doesn’t impose charges). There is also no performance fee or carry on equity gains – if your startup investment happens to 5x in value upon exit, Fellow Funders does not take a cut of that profit from the investor side. This fee-free approach for investors is a big plus, making the platform attractive to retail investors who can participate without ongoing costs. One minor aspect to note is that successful investments may incur notary fees (in some cases when formalizing share purchases) which are usually borne by the issuing company, not the investor. Overall, from the investor perspective, the platform’s pricing is extremely competitive (free), and this is clearly communicated to build trust.

Fees for Fundraising Companies: The platform generates revenue by charging fees to the project promoters (the startups or real estate developers raising funds). Fellow Funders charges a success fee (commission) on the amount raised – while the exact percentage is not published in investor-facing materials, it is typically in line with industry standards (roughly 5–7% of the funds raised, according to similar Spanish platforms). Officially, Fellow Funders publishes a schedule of “tarifas para promotores” with maximum fee caps, as required by regulation. The main fee is a commission for the “Reception, selection, and publication of projects”, which is only charged if the funding round is successful (if a campaign fails to reach minimum funding, the company isn’t charged the success fee). There may also be some auxiliary services fees: Fellow Funders offers optional services to companies such as pre-campaign advisory, valuation (Fair Value report), and marketing support. For example, they might charge a fixed fee for conducting a thorough valuation or for extra promotion of the campaign. However, these are usually negotiated and capped. Transparency is important: all fees are disclosed to the company in advance and often written into the funding agreement. From the perspective of investors, it’s useful to know that part of your investment goes to cover these platform fees for the company (meaning if a startup raises €100k, it might only net ~€93k after a 7% fee, the rest being the platform’s revenue). Fellow Funders does not charge any performance fees or annual fees to the businesses beyond the initial fundraising-related costs. This model aligns the platform’s interest with successful fundraising and also ensures that investors’ money largely goes into the project itself.

Pricing Transparency: The platform is very clear about its fee structure on its website and blog (there is a “Tarifas” section detailing services and maximum prices). Importantly, no fees are charged without disclosure. For investors, every euro invested is deployed into the project (if the round succeeds) or returned (if the round fails), with zero platform deductions. For entrepreneurs, the commission is only due upon success. This transparent, mostly success-based fee model underscores Fellow Funders’ commitment to fairness and is standard in the equity crowdfunding industry. It also incentivizes the platform to select and support campaigns that have a good chance of success (since its revenue depends on it). In terms of payment processing, investors might notice a small charge of €0.10 or similar during identity verification – this is just to verify the bank account and is often refunded or used as part of the investment. Exit fees: There are no specific exit fees charged by Fellow Funders when an investment is realized (for instance, if a startup gets acquired, the proceeds are distributed to investors without the platform taking a cut). However, any external costs (like capital gains tax or notary fees for share transfer at exit) would be the investor’s responsibility. Overall, Fellow Funders earns its money in a straightforward way (success fees from fundraisers) and maintains a high level of transparency, which is appreciated by both investors and entrepreneurs.

Negative Publicity about Fellow Funders ⚠️

To date, Fellow Funders has largely avoided major scandals or negative press, especially compared to some competitors in the crowdfunding space. The platform has a clean regulatory record – no known warnings or sanctions from the CNMV (Spain’s securities regulator) have been issued against Fellow Funders as of 2025. This is important, as a few other platforms in Spain faced penalties in the past (for example, an unrelated real estate platform was fined for misleading advertising), but Fellow Funders has not been implicated in any such issues. The CNMV’s public registry of crowdfunding providers shows Fellow Funders in good standing and fully authorized, with no irregularities noted.

User Complaints: While there isn’t widespread negative press, some investor criticisms have appeared on forums and reviews. The most common frustration expressed by users relates to the illiquidity of investments – some investors were hoping for a quicker way to exit positions and have noted disappointment that no secondary market exists (a sector-wide issue). Additionally, the high minimum investment (often €500 or €1,000) has drawn criticism from those used to international platforms where one can invest as little as €10; a few reviews suggest this can be a barrier for small investors (though it’s partly due to Spanish regulations and the desire to have serious investors). On consumer review sites like Trustpilot, Fellow Funders holds an average rating (~3.3 out of 5), with the majority of reviews being very positive but a minority (~22%) being 1-star reviews. The negative reviews tend to cite slow communication or delays in receiving updates/documentation, and in some cases, disappointment with specific investment outcomes (e.g. a startup not performing as expected). However, according to an independent analysis, these negative experiences appear to be isolated incidents rather than systemic problems. The company has been noted to monitor and respond (to the extent possible) to client feedback, showing a willingness to improve.

Project Failures and Controversies: It’s inherent in crowdfunding that not every project will succeed. Fellow Funders has had a few high-profile funded companies run into trouble – the most notable being 2gether, a cryptocurrency app that raised money in 2020 and then shut down in 2022, stranding its users. This was somewhat awkward given that Fellow Funders later partnered with 2gether under Orbyn; nonetheless, it underscored the high-risk nature of startup investing (investors in that round likely lost their capital). Another case often discussed in forums is that some startups have delayed their promised timelines – e.g., a company taking longer to deliver growth or a real estate project finishing behind schedule – which can test investors’ patience. In 2020–2021, during the height of the COVID-19 pandemic, a few startups on Fellow Funders had to pivot or struggled, but there haven’t been reports of outright fraud or intentional misuse of funds on the platform.

Media and Community Discussions: Financial bloggers and community forums generally view Fellow Funders positively, with caveats. On sites like Rankia (a popular Spanish finance forum), users have commented that they are “content with the management” of Fellow Funders and have no major complaints, though they reiterate the lack of liquidity as a downside and note that the time horizons are long (meaning one shouldn’t invest if they might need the money back soon). Fellow Funders is sometimes compared with other platforms: it’s praised for being fully regulated and having a professional approach, but some critics suggest it could have more frequent deal flow or more tech innovation (for instance, introducing a secondary market or auto-invest like some European platforms). There were minor murmurs in late 2021 about the stability of the 2gether integration (since 2gether’s crypto operations failed), but that was more about the group strategy than about the crowdfunding platform’s integrity.

In summary, no serious negative publicity has hit Fellow Funders. The platform’s main “negatives” are intrinsic to the investment type (risk, illiquidity, high minimums) rather than misconduct. It’s advisable for prospective investors to be aware of these issues: you may find yourself holding an investment for many years without updates, and a portion of companies will inevitably fail – these are not reflections of the platform doing something wrong, but rather the nature of startup investing. The key red flag to highlight is simply that investments on Fellow Funders can result in total loss, which is always clearly stated by the platform (each investment comes with risk warnings). Apart from that, Fellow Funders has maintained a solid reputation in the Spanish fintech ecosystem, with no major controversies or scandals as of now.

Fellow Funders Success Stories and Notable Achievements 🌟

Despite the risky landscape of early-stage investing, Fellow Funders has facilitated several success stories that it (and its investors) can celebrate. One of the flagship successes is CF Intercity, a Spanish football club that raised capital on Fellow Funders in multiple rounds (2019 and 2020) and went on to become the first crowdfunded football club to list on a stock market (BME Growth) in 2021. This was a groundbreaking moment – early investors in Intercity gained liquidity and the potential for substantial returns, validating the equity crowdfunding model for sports investments. Another notable case is FacePhi: while not funded initially via the crowd, Fellow Funders’ Capital Markets division helped this biometric tech company list on Euronext. In fact, Fellow Funders Capital Markets has successfully assisted at least two companies (FacePhi and CALER) in going public on the Euronext stock exchange in 2020capital-riesgo.es, showcasing the platform’s extended capability to support companies from private funding through to IPO.

Within the startup portfolio, there have been numerous smaller-scale success milestones. For example, Mooevo, a mobility startup funded on Fellow Funders, won the Expansión Startup Award 2020 in the Smart Cities category, highlighting the innovative quality of projects on the platform. AIUDO, a care services platform, and Dougall’s Brewery are cited as crowdfunding campaigns that not only hit their funding targets but have grown significantly post-funding (Dougall’s, a craft beer brand, expanded its product range and distribution after its Fellow Funders round, becoming a beloved success among the investor community). Another success was ChineSpain, a tourism operator focusing on Chinese travelers in Spain – it raised funds on the platform and later merged or partnered with larger entities, providing a positive outcome for investors. The diversity of successes is notable: from tech and biotech startups to consumer brands and sports teams, Fellow Funders has demonstrated an ability to attract and vet companies with strong potential.

On the real estate side, success is measured by completed projects and investor returns delivered. A shining example is the Sotogrande luxury development (2023) which raised €4.7M (the platform’s largest real estate round to date) and has reportedly progressed well in construction. Additionally, the platform’s first series of house flipping projects with developer Re-Aviva were all successful – by mid-2022, Fellow Funders Real Estate had completed six property deals, returning profits around 15–20% to investors as projected. This momentum led the platform to double its real estate funding volume within months, and by 2022 year-end the real estate vertical had raised a cumulative €21M, far exceeding initial expectations.

Awards and Recognition: Fellow Funders itself has received industry recognition. It’s often mentioned among the top alternative financing platforms in Spain, and although it’s a younger company, it has been featured in financial media (El Confidencial, El Español’s Invertia, etc.) as a key player in democratizing investment. The platform’s innovative approach of combining crowdfunding with other financial services (the “Finance Symphony” model of valuations + crowdfunding + advisory + capital markets) was highlighted as a case study in fintech forums and even in a Product Hackers report as a successful digital platform strategy. In late 2021, the formation of Grupo Orbyn (with Fellow Funders at its core) was celebrated as a milestone for the Spanish fintech sector – Orbyn was touted as “the first fintech specialized in alternative investment” in Spain, and the group reportedly ended 2021 with over €7M in revenue and 150,000 users across its platforms. This indicates the scale and reach Fellow Funders has achieved through strategic growth.

Partnerships: Fellow Funders has forged strategic partnerships that strengthen its ecosystem. It teamed up with Netin Club (an investor network) to increase deal flow and co-investment opportunities in 2020. It also allied with Nowture, a biotech investment network, to bring biotech projects to the capital markets – aligning with Fellow Funders’ efforts to fund cutting-edge biotech startups and potentially list them. In the energy sector, in 2022 Fellow Funders partnered with a veteran energy executive (a former power company president) to launch its photovoltaic investment division, aiming to fund solar farm projects – a vertical that is expected to bring in sizable deals and was projected to contribute significantly to 2022’s growth.

Key Milestones: To summarize timeline highlights:

2017: Fellow Funders launches and obtains CNMV crowdfunding license (one of the first in Spain).
2019: Hosts successful campaigns like CF Intercity’s first round, Zonavalue’s pre-market funding, etc.
2020: Record year during the pandemic – 14 rounds funded (~€9M), including the largest crowdfunding round in Spain up to that point (€1.5M for 2gether). Also, first exits via Euronext listings (FacePhi).
2021: Launch of Fellow Funders Real Estate; merges into Orbyn Group (Dec 2021) expanding services (crypto, etc.); CF Intercity goes public (November 2021).
2022: Rapid expansion – 15 operations funded (€11.5M) in H1; Real Estate division raises ~€20M (8 projects) by year-end; launches Fellow Funders PV (solar) division in March; receives new EU Crowdfunding Service Provider authorization (Nov 2022).
2023: Largest single round (€4.7M Sotogrande project); total historical funding crosses €60M; begins offering private rounds service for larger raises outside the public platform.
2024: Surpasses €80M total raised; over 90 companies funded; introduces private vehicle for real estate promoters; eyes expansion to EU markets (Portugal/France) in planning.

These successes and milestones illustrate Fellow Funders’ growth trajectory and impact: from enabling individual startups to scale up and even IPO, to innovating in how alternative investments are offered. For retail investors on the platform, the success stories provide proof that while risks are high, the model can yield real rewards – some investors have seen notable exits or returns, validating their trust in this alternative investment approach. Fellow Funders’ journey has also earned it a reputation as a serious, reliable platform in Spain’s fintech sector, often lauded for its professionalism and breadth of services.

Is Fellow Funders safe and is it a regulated platform?

Yes – Fellow Funders is authorized and regulated by the CNMV (Spain’s National Securities Market Commission) as a crowdfunding platform. It operates under EU regulation 2020/1503, which means it meets European standards for investor protection. The platform uses secure, encrypted technology and segregated client accounts for handling funds. As an investor, you also go through suitability and knowledge checks to ensure you understand the risks. While no investment is “safe” (you can lose money on the projects), the platform itself is considered legitimate and reputable, with regulatory oversight and measures in place to safeguard investors (e.g. if Fellow Funders were to go out of business, provisions exist to transfer your investments to another administrator). Always remember that “safe” in this context refers to the platform’s integrity and processes – the investments carry risk, which is different from platform security. Fellow Funders has a solid track record with no known security breaches or fraud incidents, so in terms of trustworthiness, it is as safe as any regulated investment platform can be.

What kind of returns can I expect on Fellow Funders investments?

Returns vary widely depending on the type of investment. For startup equity investments, there is no fixed “interest” or dividend – your return comes if the startup grows and achieves an exit (like being acquired or going public). Successful startups could multiply your investment (e.g. 2x, 5x, 10x over several years), but many may also fail and return 0€. It’s not unusual in equity crowdfunding that only a few investments provide very high returns while others yield none, so your personal return will depend on which projects succeed. On the other hand, for real estate projects (which are usually development deals), returns are more predictable: Fellow Funders’ real estate deals often target around 10%–20% annual returns. For example, a house flipping project might offer +15% profit in 12–18 months, and indeed many past property deals have delivered in that range. The platform will indicate the “expected return” for each project: for startups this could be an indicative ROI or valuation growth, for real estate it’s usually a projected IRR or profit percentage. Keep in mind these are projections, not guarantees. Overall, a diversified portfolio on Fellow Funders might aim for high double-digit percentage returns in case of a few big wins, but there is also a realistic scenario of only breaking even or losing money if the chosen companies underperform. Investors should set return expectations accordingly – this is a high-risk/high-reward arena.

How long is my money typically locked in?

When you invest via Fellow Funders, you should be prepared to have your money locked in for a long period. Startup equity investments are long-term commitments – it can take 5 to 10 years (or more) for a startup to reach an exit event where you could potentially sell your shares. There are no interim opportunities to cash out, because there’s no secondary market on the platform and startups are private (not tradable on an exchange). You essentially have to wait until the company gets acquired by another company, goes public, or somehow allows share buybacks. Some startups might also start paying dividends after several years if they become profitable, but that’s relatively rare in early-stage investing. Real estate investments on Fellow Funders have shorter lock-in periods, typically around 1 to 3 years. These are project-based – for example, a development project might project a 18-month timeline; your money is locked in until the project completes and the properties are sold (and you get your share of the proceeds). In some cases, timelines can extend if there are delays (which happen occasionally due to construction or permitting issues). Importantly, you cannot withdraw your money early from an ongoing project. Once you commit and the funding round closes successfully, those funds are deployed to the project and you must wait until the exit or completion. The only exception might be if a project fails to reach the minimum funding – in that case your money is returned immediately (since the investment didn’t go through). But assuming a successful funding, you should consider the money illiquid. Bottom line: invest only money that you won’t need in the near term, because you won’t be able to access it until the investment naturally exits, which could be years down the line.

What are the main risks of investing through Fellow Funders?

The main risks are inherent to the types of investments offered, and they include:

Risk of Loss: These are high-risk investments. Startups can fail – if a company goes bankrupt or winds down, your shares can become worthless (you lose the money invested). Real estate projects carry development and market risk – e.g. construction issues or property market downturns could reduce or eliminate expected returns. You should never invest money you aren’t prepared to lose.
Illiquidity: As discussed, there is no easy exit. You can’t sell your investment on a whim. You might be locked in for years with no ability to convert back to cash. This illiquidity means you should have other savings for emergencies and not count on accessing this invested money.
Long Time Horizon: Even successful investments take time to pay off. You must be patient; the opportunity cost is that your money is tied up and not earning interest elsewhere. If you need liquidity, these investments won’t provide it until the end.
Dilution: In startup investing, future funding rounds can dilute your ownership. If the startup raises more capital later (which is common), new shares might be issued and your percentage holding shrinks. Fellow Funders tries to negotiate that crowdfunding investors get pro-rata rights (the ability to invest in later rounds to maintain their stake), but not always guaranteed. Dilution can affect your potential upside.
No Guaranteed Returns: Unlike a bank deposit or bond, there are no fixed returns or guarantees. Even if a project looks promising, there is no guarantee of any return. Returns are variable and performance-dependent. For real estate, while there is some predictability, unexpected costs can eat into profits. For startups, they might never reach profitability or a liquidity event.
Platform Risk: While Fellow Funders is regulated and in good health, there’s a theoretical risk that the platform could shut down or face an issue. However, even in that case, your investments are in independent companies – you’d still own your shares, though administrative hassle might occur to transfer management of those stakes. The platform has contingency plans as required by regulation to ensure continuity of investor holdings.
Economic and Market Risks: Broader economic conditions can impact outcomes. For example, a recession can hurt startup survival rates and property values. Regulatory changes can also affect the crowdfunding environment (though in this case the regulatory trend has been supportive with the new EU rules).
Risk of Overestimating Valuations: Startups on crowdfunding platforms might be offered at valuations that optimistic founders set. There’s a risk of overpaying – if a startup raises at a very high valuation and then fails to meet growth targets, investors might have bought in at too expensive a price, reducing eventual returns.
Lack of Diversification: If an investor puts too much money into one project or a few similar projects, the risk increases. It’s up to the investor to diversify across different deals (Fellow Funders provides many options, but it’s your choice how to allocate).

Fellow Funders does mitigate some risks by thoroughly vetting projects and by ensuring legal compliance (for example, funds are only released to projects that meet funding conditions, and each investment is formalized properly so your ownership is secure). But it cannot remove the fundamental risk-reward trade-off. In summary, the main risks are losing money and not having liquidity. Investors should carefully read each project’s info, heed the risk warnings provided, and invest prudently (diversifying and sizing investments appropriately relative to their net worth). If you understand these risks and are willing to take them for a shot at higher returns, Fellow Funders can be a valuable platform – but it’s not a place for “safe” or guaranteed investing.