CROWDFUNDING ESCROW AGENT SERVICE
Pursuant to the 'Communiqué on Equity-Based Crowdfunding' of the Capital Markets Board dated 03/10/2019, for the implementation of the Equity-Based Crowdfunding project which is a revolution for the Turkish Entrepreneurship Ecosystem, Our Bank, whose mission is to act as a bridge between money and capital markets, is authorized as the "Escrow Agent" that will block the funds collected through the platforms until it is transferred to the venture capital company or returned to the investors. Our Bank, has also been authorized as “Escrow Agent” for both the Equity-Based and the Lending Based Crowdfunding within the scope of subparagraph (d) of the first paragraph of article 4 of the 'Crowdfunding Communiqué’ dated 27/10/2021, in which the CMB included the provisions of Lending-Based Crowdfunding as well as Equity-Based Crowdfunding.
Within the scope of the provisions of the Communiqué, the funds collected on behalf of the venture/venture company under the account to be opened on behalf of the platforms are blocked during the campaign, and after the successful completion of the campaign and the dematerialization of the shares/debt instruments issued by the venture/venture company in electronic form and the monitoring on an investor basis, the raised fund is transferred to the funded company upon notification of the platform. If the campaign becomes unsuccessful, at the end of the campaign period, the funds collected are returned to the relevant investors upon the platform's notification of the return list to us.
Procedures and principles regarding the transactions carried out by Takasbank within the scope of the Crowdfunding Escrow Agent Service is determined by Istanbul Takas ve Saklama Bankası A.Ş. Crowdfunding Escrow Agent Procedure.