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The objective of ALTFINATOR is to facilitate and improve innovative SMEs Access to alternative finance (i.e. other than bank finance, like equity-based or debt-based crowdfunding, peer-to-peer lending, invoice trading, business angels, etc.) through capacity building of the financial ecosystem and its participants in the countries where the potential for improvement is the highest (South-Europe and Central and Eastern Europe).


The main challenge of the ALTfinator project is to improve access to alternative finance for innovative SMEs, and to absorb the potential new emerging forms of finance leveraged by innovative financial technologies.

ALTFINATOR intends to create the conditions for SME’s expansion by addressing the financial gap.


The project will design, develop and implement a stimulation strategy in order to increase the capacity of the financial ecosystem and its participants in Southern, Central and Eastern European countries for the provision and absorption of alternative forms of financing for SMEs.


The real long-term impact on a country´s and European economic performance can be perceived when the innovative SMEs scale and expand their operations. ALTFINATOR will contribute to increase the competitiveness and growth of European innovative SMEs.

In addition, the project will provide information at the European level through material resources and online tools for training and outreach to innovative SMEs on alternative financing systems and their suppliers.

This project has received funding from the European Union’s Horizon 2020 Research and Innovation programme, under grant agreement No. 792040.

Francisco de Arístegui

“Alternative non-bank financing for innovative SMEs through new instruments, such as crowdfunding, is growing by leaps and bounds in Northern Europe. ALTfinator wants to contribute to stimulate its use in SMEs in Southern and Central Europe.”

Francisco de Arístegui

Head of Studies for Consulting Services

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