The number of retail investors in crowdfunding decreased
Despite the fact that the crowdfunding market demonstrated growth according to the results of 2024, the number of active investors decreased, reaching a quarter of a half -year minimum to the fourth quarter. The statistics spoiled the passivity of individuals, while the number of investors from among the IP and legal entities only grew. The reason in the high key rate of the Central Bank, which allowed citizens to receive high income from low -risk tools. However, already in 2025, market participants are waiting for citizens' interest in crowdfunding.
On Monday, the Bank of Russia published data on the activities of investment platform operators (OIP) following the results of 2024. According to them, over the year of the OIP, 54.2 billion rubles were attracted, of which 17.7 billion rubles – in the fourth quarter, against 11.1 billion rubles. A year earlier. In the statistics of the Central Bank there is no monthly breakdown, but, as Kommersant reported with reference to the data of the Association of Operators of Investment Platforms, such a result was provided by December (See “Kommersant” from January 27).
OIP operates activities to organize investments by providing loans (crowdlanding), acquisition of emission securities (crowdinvesting) and utilitarian digital rights (UTsp). According to the data on March 2, 2025, 98 existing OIP were listed in the Central Bank Register. The largest part of the funds raised in 2024 was on crowdlanding – 76%, 23% – for Kraudinvesting. The share of the UTsp is still about 0%.
Despite the increase in the volume of funds raised, the number of active investors in all types of OIP in the fourth quarter dropped to 46.9 thousand, which became the minimum value from the second quarter of 2023 (43.05 thousand people). The indicator systematically decreased all year. For comparison: in the first quarter of 2024, it amounted to 63.5 thousand active investors. The decline occurred mainly due to individuals, which account for more than 90% of all OIP investors in quantitative terms. The number of active investors – IP and legal entities grew all year.
Market participants connect the outflow of retail investors with a high key rate of the Central Bank.
“A decrease in the number of active investors-philosops on investment platforms recorded by the Central Bank can be explained by other factors. First of all, in the conditions of a high key rate, many citizens prefer risk -free investment instruments, such as bank deposits or government bonds, which offer, albeit below profitability, but at the same time significantly lower the risk level, says the managing partner of Mani Frands Yuri Kolesnikov. “The situation was also aggravated by economic challenges, such as inflationary processes”.
It is interesting to note that the president of the Invoskaf investment platform Gennady Fofanov draws attention that, with a decrease in the activity of individuals, the number of active individual entrepreneurs and legal entities on investment platforms is growing. “Professional investors and companies continue to see the potential in this market, despite its current problems,” he points out.
As for the forecast for 2025, one can expect the effect of the “thaw” investment in the crowdland market against the backdrop of preservation (non -impression of the key rate) and the adaptation of investors to the persistent current situation, says Mr. Kolesnikov. “Probably, the continuation of the trend for the concentration of capital: the average investment check will grow, and the total amount of funds raised can increase, despite the reduction in the number of active investors,” says Ilya Zharsky, the managing partner of the VETA expert group. “This is especially true for the Kraudlanding segment, which demonstrates the most steady growth among all directions.”
According to the junior director of the Corporate ratings « Expert RA » Anna Ivanova, an active marketing campaign by investment platforms, as well as work on the quality of the portfolio, begun in 2024, will return part of the investors to the Kraudlanding market. “In order for the number of individuals to grow on investment platforms, they need to become more open to the investment community,” says Oleg Abelov, head of the analytical department of the RIKOM-TRAST IR.
