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Tokenised alternative financing

Turn your community into shareholders.

Your community already grows your business. Let them invest in it, within a proper regulatory framework and without complicating your cap table.

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  • Financing

    Fund your growth with your community

    Your customers invest in your business as minority shareholders or as lenders, and you keep control.

  • Loyalty

    Increase customer retention

    Owning a stake deepens a customer's sense of belonging to the business: they spend more, stay loyal longer and their LTV grows.

  • Growth

    Grow your business organically

    Every investor acts as a brand ambassador: they refer their contacts and your CAC comes down.

8 to 12weeks
From structuring to a live issuance.
2routes
Equity or debt, whichever suits your business's cash flow.
100%
Of the relationship with your investors happens under your brand.
0euros
To assess how well your business fits with us.

The mismatch

Your community creates value. But it never captures any of it.

They buy your products. They recommend you to their friends. They defend your business on social media. They make you grow. And when you raise capital, they are left out entirely.

Meanwhile, your funding processes are complex and cost you control.

What if your best customers could also be your investors?

Today

  • Your community drives your growth with no way to share in it

  • Your funding rounds are complex and dilute your control

  • Retaining customers is harder in an ever more competitive market

  • You spend too much on marketing to keep your business growing

With Ownex

  • Your customers become investors and share in the growth

  • Capital comes from your community, with a clean cap table and control preserved

  • Loyal customers who choose your business over the competition

  • A community with a sense of belonging that grows your business with you

The Ownex thesis

Your biggest asset is already built. Shall we activate it?

Customer loyalty is now a priority for every consumer business. Turning customers into investors is the main way to earn it, making them part of the business and strengthening both their retention and their commitment to the company's growth.

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Peer-reviewed studies that back the thesis

  • Holding shares motivates people to behave as loyal customers and to stand up for the brand.

    Aspara, J. (2009)

    Stock ownership as a motivation of brand-loyal and brand-supportive behaviors

  • Opening equity to the community does more than raise money: it is a way to acquire loyal customers.

    Hoffmann, C., Moritz, A. and Kenning, P. (2022)

    More than a financial alternative: discovering equity crowdfunding as a tool for entrepreneurial ventures to acquire loyal customers

  • Understanding and using a brand's product pushes people to invest in it: customer and investor tend to be the same person.

    Righi, R., Pedrazzoli, A., Righi, S. and Venturelli, V. (2024)

    The clientele effects in equity crowdfunding: A complex network analysis

  • The BrewDog case: the round opened to its customers built a brand community, not just a shareholder base.

    Sabia, L., Bell, R. and Bozward, D. (2022)

    Using equity crowdfunding to build a loyal brand community: The case of BrewDog

Study 1 of 4: Aspara, J. (2009)

What Ownex is

Everything you need for your community to invest in your business.

An end-to-end B2B platform for co-ownership: legal structuring, equity or debt issuance aimed at your community and ongoing investor management. You focus on your business. We take care of the rest.

  • Structuring

    We build the legal and financial structure so your round meets regulatory standards and your cap table stays clean, without complicating future rounds.

  • Issuance

    We run the round aimed at your community, covering the issuance process end to end and coordinating with regulated financial entities.

  • Activation

    We run the relationship after closing: investor management, benefit activation, dividend or coupon payments and periodic reporting.

How it works

A single platform for managing the whole issuance and its investors.

The dashboard that controls the issuance, the investor management panel and the portal under your brand that your customers and investors log in to. All three come integrated in the same platform.

Access: Ownex and issuer

Full visibility of where your issuance stands.

The complete issuance file, with the status of every document and the entity responsible for it: what the lawyer has certified, what the notary has executed as a public deed, what the investment firm has validated and what is recorded in the register.

  • The authorised investment firm validates the investor information before the offering opens
  • The registry entity records the shares at closing and issues the legitimation certificates
  • Every regulatory obligation is assigned to an authorised entity

Access: issuer

Your investor base, managed from a single place.

Who has invested, how much and in which tier, alongside the engine that launches benefits and communications. The investor register stays up to date with no manual work.

  • Investor register up to date, with no spreadsheets running alongside
  • Segmentation by tier and by activity
  • Benefits and communications aimed at a specific segment

Access: investors

Subscription and tracking without leaving the brand's domain.

Under your own brand. It is where people subscribe while the offering is open and where, afterwards, each investor checks their position, activates benefits and, if they are a shareholder, votes at the general meeting.

  • Subscription with KYC built in, without leaving the issuer's domain
  • Position and tier updated at all times
  • Benefit activation and, for equity, voting at the general meeting
Request a demo

Issuance simulator

How much capital can your community contribute?

Choose how you want to raise the money, enter your assumptions and get an estimate of the capital you can raise and of what it costs to structure the deal.

Your community comes in as shareholders: you don't repay the capital, you give up a share of the ownership.

Raisable capital
€2,000,000
Dilution
16.7%
Issuance costs
€77,000 to €181,000

Costs vs. capital

0100,000200,000300,000400,00001,000,0002,000,0003,000,0004,000,000Capital raised, in eurosIssuance costs, in euros

Indicative estimate based on the assumptions entered. It is not a fundraising commitment or an offer of securities.

Get the full breakdown by email

Regulatory framework

Every issuance complies with Spanish securities regulation.

We structure every issuance under the LMVSI, the Spanish law that transposes MiFID II and governs the issuance of securities. We don't operate in legal vacuums or grey areas.

We coordinate every issuance with authorised entities (ESI/ERIR) and prepare the full legal documentation: prospectus or exemption, the issuance structure (a vehicle for equity, a direct issuance for debt), a shareholders' agreement where it is equity, and the KYC/AML flow.

LMVSI

Spanish Securities Markets and Investment Services Act

Spanish legislation that transposes MiFID II and governs the issuance of securities.

Law 6/2023, of 17 March

ESI and ERIR

Regulated entities

The ESI (an authorised investment firm) validates the investor information and supervises the marketing; the ERIR (the entity in charge of the register) keeps the register of the securities. Your business needs no licence of its own.

Supervised by the CNMV

DLT Pilot Regime

Secondary market

European pilot regime that enables market infrastructures based on distributed ledger technology, including a secondary market for digital securities.

Regulation (EU) 2022/858

In practice

Same infrastructure, a solution adapted to each sector.

For operators with their own community and a growth plan that calls for significant capital.

  • Fitness, wellness and sports centres

    Profile
    Gym chains, boxes, studios, padel or pickleball centres and wellness or aesthetics spaces with recurring members.
    The round funds
    New centres, facilities, equipment and wider services.
    The community receives
    A share in results, preferential terms and a voice in new services.

  • Restaurants and franchises

    Profile
    Groups and franchised chains with several venues and customers who come back.
    The round funds
    New openings, refurbishments and property purchases.
    The community receives
    A stake in the business and exclusive experiences at the venues.

  • Hotels

    Profile
    Hotel chains and operators with guests who come back.
    The round funds
    New openings, refurbishments and property purchases.
    The community receives
    A stake in the business and preferential terms on stays.

  • Fashion and branded retail

    Profile
    Brands with their own identity and an active direct-to-consumer community.
    The round funds
    Inventory, new collections, own stores and international expansion.
    The community receives
    A stake in the business, early access to collections and a voice in product decisions.

  • Entertainment and events

    Profile
    Venues, festivals, production companies and studios with a loyal audience.
    The round funds
    Productions, new venues and content development.
    The community receives
    Early tickets, exclusive content and a share in what the project earns.

  • Consumer fintech

    Profile
    Payments, savings or neobank apps with users active every week.
    The round funds
    Product, user growth and expansion into new markets.
    The community receives
    A stake in the company and a direct relationship with the people who already use it.

    Regulated activity. Fit is assessed case by case.

Is your sector not listed? Ownex does not depend on the sector, it depends on your relationship with your customers.

Talk about my case

Resources

Want to learn how tokenisation is disrupting startup financing?

Guides on what really decides a round aimed at your own customers: the corporate structure, what Spanish law requires and how it is all run once there are hundreds of investors.

See all 16 published resources

Frequently asked questions

Still have questions?

These are the answers to the questions we hear most.

No. Traditional crowdfunding runs through generic platforms where a project competes for attention with thousands of others: the offering is mass-market, the experience is disconnected from the business and the relationship with the investor ends when the campaign does. Ownex structures equity or debt rounds aimed exclusively at the business's own community. For equity the issuance goes through a vehicle, for debt the company issues directly, always with regulated entities, and there is no intermediary platform: the capital comes from people who already know and use the product.

And that is where most issuance platforms fall short: they issue and disappear. Ownex operates the Owner Hub, integrated into the business's own website, where investors follow their position, receive updates, activate exclusive benefits and take part in decisions. The issuance is the start of the relationship, not the end of it.

It depends on the instrument, which is chosen to suit the business's cash flow. With debt, the company itself issues and the customer lends in exchange for an annual coupon and repayment of the principal at maturity. There is no dilution and the cap table does not change.

With equity, they receive shares in an SPV (a special purpose vehicle) that holds a minority stake in the operating company. It is real equity, with economic rights and, depending on the structure, limited voting rights. This website uses “shareholder” as a plain-language term; legally the position is that of a member or partner of the vehicle, depending on its corporate form.

In that case dilution depends on the size of the round and on the valuation agreed, and the specific figure is calculated on your business's own numbers. What doesn't change is the shape: the SPV aggregates every shareholder into a single line of the cap table, so the structure doesn't get more complicated as investors are added and the capitalisation table stays clean and compatible with future VC rounds or an exit process.

For consumer businesses with recurring customers and an active community. It works particularly well in fashion, streetwear, restaurants, gyms, sport, lifestyle and retail. Sectors where the customer brand relationship is already strong and expansion capital can come from the customer base itself.

Typical issuances range from €100,000 to €1,000,000, depending on the size of the community, the average ticket per investor and the company's valuation. For businesses with larger communities, bigger issuances are possible within the same regulatory framework.

The business needs no licence of its own. Ownex coordinates each issuance with authorised investment firms (ESI) or registered entities (ERIR), and regulatory supervision rests with them.

The split is this: Ownex designs the issuance structure, builds the Owner Hub and runs investor activation; the regulated partners (ESI/ERIR) supervise the issuance and regulatory compliance; the registration and issuance infrastructure is provided by a white-label provider integrated into the system. Ownex is the architect and operator, the regulated partners are the supervisors, and the technology is the invisible infrastructure.

No. What investors receive is shares or debt in a real company, issued with regulated entities, and today there is no open secondary market and no listing: nobody buys and sells positions from one day to the next. The digital infrastructure is used for the register (digital cap table, traceability, automated regulatory compliance), not for speculation. The European pilot regime (Regulation (EU) 2022/858) does enable secondary market infrastructures for digital securities, and that is where investor liquidity is heading in the medium term, always within that supervised framework.

The full process, from legal structuring to a live issuance, takes 8 to 12 weeks. The cost has two parts: fixed costs paid to third parties (lawyers, incorporating the vehicle and notary fees, regulatory validation and onboarding onto the digital register), which are incurred before anything is raised, and an Ownex success fee charged only when the round closes. The simulator on this page gives you an estimate with your own numbers, and we send you the full breakdown by email or go through it on the call.