What Happy Capital does

Happy Capital is a French equity crowdfunding platform founded in 2013 and headquartered in Bordeaux, operating under the legal entity Happy Capital SAS (SIRET 79176639700016). The company operates as an AMF-authorized Prestataire de Services de Financement Participatif (PSFP, FP-2023-29) and Conseiller en Investissement Participatif (CIP, ORIAS 13004726), connecting French SMEs and startups seeking capital (€100,000–€2,500,000 per campaign) with retail investors able to participate from €100 per ticket. The platform has facilitated 64 validated equity campaigns across biotech, cleantech, commerce, services, journalism, and ClimateTech, with an additional 23 real estate projects run through the MyCapital Immo sub-brand (debt instruments, 10–12% projected returns).

The core technology is a self-serve web platform handling investor onboarding, KYC, digital document management (FICI disclosures), and payment processing — payment flows are outsourced to Lemon Way (ACPR-licensed, 16568J), authentication runs through Shoyo and Google sign-in, and Capsens provides extinguishing management for operational continuity. Partner distribution channels — Caisse d'Epargne's Néo Business program, CCI Bordeaux, and the Novachim/PACA multi-investor platform — drive both deal flow and investor acquisition, supplemented by the Crowd-Pitch live event series and a content-marketing blog on tax-advantaged investing (IR Madelin, PEA-PME, JEIR).

The business model is a transaction/placement-fee structure: Happy Capital charges fees to issuers on successful equity, bond, and mini-bond raises, plus advisory services. The company operates with a small team (1–10 employees), no institutional capital raised, and an ownership structure not publicly disclosed beyond founder/CEO Philippe Gaborieau. Strategic moves include the acquisitions of Prexem (2019) and Kiosk to invest (2020), launch of MyCapital Immo (2020), and AMF PSFP authorization (2023).

Name

Happy Capital

Legal name

HAPPY CAPITAL SAS

Website

https://happy-capital.com

Company type

Private

Founded year

2013

Operating status

Operating

Headcount range

1–10 employees

Short description

Happy Capital is an AMF-licensed French equity crowdfunding platform founded in 2013 in Bordeaux, connecting SMEs seeking €100k–€2.5M with retail investors investing from €100, and operating the MyCapital Immo real estate debt sub-brand.

Ownership category

akta.pro rank

Product category

Equity Crowdfunding Platform

NAICS

Investment Banking and Securities Intermediation (523150), Miscellaneous Intermediation (52391)

SIC

Security Brokers, Dealers & Flotation Companies (6211), Investment Advice (6282)

akta.pro primary industry

Venture Capital Fundraising Placement (FSAEALAC)

akta.pro secondary industries

Capital Raising Advisory (Equity & Equity-Linked) (FSAEAGAC), Debt Capital Raising Intermediation (Private Debt/Mezzanine/Bonds) (FSAEALAM), Execution-Only / Self-Directed Investing Platforms (FSAAAAAI)

Keywords

• Equity crowdfunding platform
• Crowdinvesting services
• SME capital raising
• Retail investor access
• Crowdlending marketplace

Headquarters

HQ city

Bordeaux

HQ country

France

HQ region

Europe

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Digital Commerce or Content

Cost components

Technology or R&D, Operations, Personnel, Marketing or Sales, Others, Infrastructure

Revenue model

1. Transaction/placement fees: Happy Capital charges fees to issuers (companies raising funds) for listing on the platform, processing capital raises, and providing advisory services. The platform facilitates equity investments (actions), bonds (obligations), and mini-bons. Revenue is generated on successful fundraises — a percentage of the capital raised per campaign.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels7 records

Core offering

Happy Capital operates an AMF-licensed equity crowdfunding platform that connects French SMEs and startups seeking €100,000–€2,500,000 in capital with individual retail investors able to invest from €100 in exchange for equity (actions), bonds (obligations), or mini-bons. The platform handles investor onboarding, KYC, payment processing (via Lemon Way), and post-fundraise issuer accompaniment, and is supplemented by a real estate crowdfunding sub-brand, MyCapital Immo, offering debt instruments with projected 10–12% returns. Revenue is generated via transaction/placement fees on successful capital raises charged to issuing companies.

Product overview

Happy Capital operates as an equity crowdfunding platform (crowdinvesting) that connects entrepreneurs seeking funding with individual investors. The core platform (happy-capital.com) enables equity investments from €100 in SMEs seeking €100,000–€2,500,000. A dedicated sub-brand, MyCapital Immo, handles real estate crowdfunding with debt instruments. Crowd-Pitch events provide supplementary investor engagement. Deep4Climate represents an AI-enabled project on the platform focused on climate risk analytics for investors.

Differentiator

Problem solved

Functional benefit

Brands

• My Capital Immo: Real estate crowdfunding sub-brand of Happy Capital offering property investment opportunities to retail investors.

Products and services

• Happy Capital Equity Crowdfunding Platform AMF-licensed online equity crowdfunding platform that enables French SMEs and startups to raise €100,000–€2,500,000 via equity (actions), bonds (obligations), or mini-bons from individual investors starting at €100, with integrated KYC, payment processing via Lemon Way, and tax-advantaged wrappers (IR Madelin, PEA-PME, JEIR 50%).
• MyCapital Immo Dedicated real estate crowdfunding sub-brand of Happy Capital offering debt investments (obligations) in property projects with projected gross returns of 10–12% and eligibility for PEA-PME tax advantages, accessible to retail investors via the mycapital.immo portal.
• Crowd-Pitch Investor Events

Quantifiable outcome

• 64 validated/completed fundraising campaigns on the platform
• +3 more outcomes

Named customers5 records

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

AI capability4 records

Partnerships

Eleven partnerships are on record, tiered major, core and minor.

• PrexemmajorStrategic or Co-development Partner · 7 February 2019Happy Capital acquired Prexem in February 2019, a platform specialized in crowdlending (prêt aux entreprises par les particuliers). The acquisition expanded Happy Capital's offering beyond equity crowdfunding to include debt-based crowdfunding, continuing the company's diversification strategy.
• CapsenscoreOthersCapsens provides Happy Capital with an extinguishing management (gestion extinctive) service — continuity of operations in case Happy Capital ceases activity. Capsens would manage investor and project promoter communications, account access, and repayment processing if Happy Capital becomes insolvent.
• Lemon WaycoreTechnology or IntegrationLemon Way is Happy Capital's licensed payment service provider (établissement de paiement agréé par l'ACPR in France since December 24, 2012, under number 16568J). It handles all payment processing, transfers, and financial flows on the platform. Complaints related to Lemon Way are redirected to lemonway.fr/reclamation.
• Fondation Maladies RaresminorStrategic or Co-development PartnerHappy Capital partners with the Fondation Maladies Rares (Rare Diseases Foundation) as part of its social responsibility and commitment to health innovation. Projects in the rare disease space may benefit from this partnership.
• Caisse d'Epargne (Néo Business)majorChannel Partner/ Reseller/ DistributorCaisse d'Epargne supports innovative businesses and startups through its Néo Business program. Happy Capital serves as a funding channel for companies referred through this program, combining banking relationships with equity crowdfunding for startups.
• NovachimmajorStrategic or Co-development PartnerNovachim, the PACA region, and Happy Capital created the first multi-investor platform in the region. This partnership channels regional innovation funding through Happy Capital's platform, combining regional public investment with retail crowdfunding.
• CCI Bordeaux (Chambre de Commerce et d'Industrie)minorChannel Partner/ Reseller/ DistributorChambre de Commerce et d'Industrie de Bordeaux refers entrepreneurs seeking funding to Happy Capital's platform. Happy Capital participates in CCI-organized entrepreneur/investor events.
• Finance Participative France (FPF)coreOthersHappy Capital is a member of Finance Participative France (FPF), the French crowdfunding industry association. FPF sets standards, lobbies regulators, and promotes best practices among French crowdfunding platforms.
• PrimoboxminorOthersPartner platform/service provider. Listed among Happy Capital's partner logos at the footer of the website.
• AEC (Association des Entreprises de la Communication)minorOthersListed as a partner logo on Happy Capital's website.
• MMA IardcoreOthersHappy Capital holds a professional liability insurance policy (RC Professionnelle) under number 127122384 with MMA Iard. Coverage: €800,000 per claim and €1,200,000 per year for CIP activity; €400,000 per claim and €800,000 per year for IFP activity.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Anaxago: Paris-based equity crowdfunding platform serving French SMEs with equity and real estate deals, directly competing with Happy Capital for both issuer capital raises and retail investor capital. Operates under similar AMF regulatory frameworks.
• Wiseed: French equity crowdfunding platform historically focused on startups and wine/innovation verticals. Competes with Happy Capital on French retail investor mindshare and SME issuer pipeline, with overlapping AMF-regulated status.
• Tudigo: French crowdfunding platform offering equity and bond investments to retail investors, with a similar SME focus and AMF CIP/IFP regulatory profile. Competes directly for the same entrepreneur and retail investor segments as Happy Capital.
• October (formerly Lendopolis): Major European SMB lending platform that acquired Lendopolis to enter French crowdfunding. Combines crowdlending and equity-style products and competes with Happy Capital's Prexem-acquired lending vertical for SME debt financing mandates.
• Fundimmo: French real estate crowdfunding platform specializing in property-backed debt investments, directly competing with Happy Capital's MyCapital Immo sub-brand in the same PEA-PME-eligible real estate crowdfunding niche.
• Sowefund: French equity crowdfunding platform with AMF CIP registration focused on startup and growth-stage equity raises. Targets the same early-stage SME issuer segment as Happy Capital with comparable minimum investment thresholds.
• Enerfip: French crowdfunding platform specialized in energy transition and cleantech project financing. Competes with Happy Capital for sustainability-focused SME issuers and impact-driven retail investors, with similar AMF regulatory standing.

Broad incumbents

• Ulule: One of the largest European crowdfunding platforms historically focused on rewards-based pre-sales, but expanding into equity offerings. Represents a broader incumbent in the French crowdfunding space and competes for SME brand awareness and consumer attention.

Others

• Prexem: Crowdlending platform acquired by Happy Capital in February 2019. Now operates as a Happy Capital subsidiary for business lending by individuals; listed separately as a former standalone competitor that has consolidated under Happy Capital's platform.
• Lemon Way: ACPR-authorized payment institution serving as Happy Capital's core payment processing partner. Functions as ecosystem infrastructure provider rather than direct competitor, but is the critical operational backbone enabling Happy Capital's platform to process investments.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/happycapital
• Facebookfacebook.com/HappyCapitalOfficiel

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A2 records

Investments16 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Happy Capital