Capital raising services in Malta
Malta's venture capital activity is predominantly cross-border, with the island functioning as an EU licensing and holding hub for iGaming, crypto-asset and fintech businesses raising capital from UK, Continental European, US and Israeli investors.
GiG, Kindred Group, Betsson Malta and EveryMatrix have established Malta-based structures as a credible base for scaling regulated online gaming businesses with international institutional backing.
Flow works with mid- to late-stage Maltese companies raising growth capital on the best possible terms - providing an extensive VC investor network with specific coverage of iGaming and regulated fintech, rigorous fundraise preparation, pitch deck and model build, and end-to-end process management through to close.
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VC rounds raised in the last 12 months in Malta
$1.1M
Median VC valuation (across all stages) in Malta
-
Median VC revenue multiple (across all stages) in Malta
$200K
Largest VC round raised in Malta in the last 12 months
Raising venture capital in Malta
Malta's domestic VC market is small. Most material venture rounds involving Maltese companies are cross-border - UK, Continental European, US and Israeli investors backing Malta-incorporated entities used as EU passport vehicles or trading subsidiaries.
International documentation
Maltese venture rounds typically use international (often English-law or NVCA-aligned) documentation, adapted for Maltese company law and the tax-refund mechanics. The English-language legal framework makes Malta unusually accommodating to international templates among EU jurisdictions.
Convertible loans and SAFEs
Convertible loan notes and Y Combinator SAFEs are both used in Maltese venture rounds. The choice is typically driven by the lead investor's preferred template rather than local convention. Conversion typically at the next priced round at a discount or capped valuation.
Round structure norms
Priced rounds use 1x non-participating liquidation preference with broad-based weighted average anti-dilution. Founder vesting (4-year, 1-year cliff) is standard. Maltese Ltd (private limited) structures support venture-stage rounds well.
Tax structuring overlay
Most material Maltese venture rounds involve careful structuring to preserve the Maltese tax refund mechanics for non-resident shareholders. Choice of holding-company structure (Malta, Cyprus, Luxembourg, Netherlands) is often part of the round structuring discussion.
Foreign investment screening
Malta operates EU-aligned FDI screening with notification required for non-EU investors taking qualifying stakes in Maltese companies in sensitive sectors - defence, dual-use, AI, critical infrastructure. Adds notification time and conditions.
Closing mechanics
Capital increases and share transfers in Maltese Ltd companies require filings with the Malta Business Registry. Closings are typically same-day signing and funding with documents executed via DocuSign. Maltese stamp duty applies to share transfers in some cases.
Top VCs and strategic investors in Malta
Keith Zammit, FasterCapital funded the most startups in Malta in the last 12 months.
See all VCs in Malta| Logo | HQ | Description | Key portfolio | |||
|---|---|---|---|---|---|---|
Keith Zammit | | - | Elevate AIEverybody Counts | 1 | Pre-seed | |
FasterCapital | | FasterCapital is an online incubator and accelerator connecting startups worldwide with angel investors, VCs, and micro-VCs through equity-for-services models in technical development and business growth. The platform offers mentorship, pitch deck reviews, and funding matchmaking for over 10,000 entrepreneurs annually. FasterCapital facilitates deals in sectors like fintech, healthtech, and edtech from its global network. | AR RAXMAT LtdHasUsedJNPM+2 | 1 | Pre-seed |
What if not VC? Non-equity funding in Malta
Malta's non-dilutive funding stack is moderate by EU standards but includes specific advantages - the tax refund system, EU funding access via Horizon Europe and sector-specific licensing regimes for crypto and iGaming.
Tax refund mechanics
Malta's full-imputation tax refund system reduces effective tax to ~5% on trading income paid as dividends to non-resident shareholders. While not directly a funding source, the tax efficiency materially improves the post-tax cash position of Maltese operating companies relative to peer jurisdictions.
Malta Enterprise grants
Malta Enterprise administers business support, R&D and digitalisation grants for Maltese SMEs. Programmes vary across competitive calls; worth checking the current calendar at the time of need.
Malta Development Bank
Malta Development Bank provides guarantees, lending and equity instruments for Maltese SMEs. Often used alongside private capital to extend non-dilutive runway, particularly for working capital and growth.
EU funding access
Maltese companies have full access to Horizon Europe programmes - EIC Accelerator grants (up to €2.5M), EIC Pathfinder, Eurostars and others. Plus structural EU funding for R&D and digital transformation via Malta Enterprise.
iGaming and crypto licensing-as-funding
For relevant tech sub-sectors, Malta's MGA and MFSA licensing regimes can substitute for fundraising - a fully-licensed iGaming or crypto-asset platform can capitalise its operations through customer balances and operational revenue rather than equity. Material consideration for specific founder profiles.
Cross-border venture debt
Limited domestic venture debt market. Cross-border providers (Kreos Capital, Claret Capital Partners, HSBC Innovation Banking) operate in Malta via European lending arms. Typically deployed against ARR or contracted revenue from Series A onwards.
Why Flow Partners as your capital raising advisor?
Kraft KPI-driven narrative
High-growth companies require thorough understanding to accurately capture their value potential. We build compelling, data-driven equity stories that resonate with investors and minimize due diligence intensity.
Move fast and cut the BS
We have a strong appreciation for the power of speed and efficiency when fundraising. Expect a rigorously efficient deal process with minimized management distraction. Founders run the business, we pick up the heavy lifting.
Access relevant investors
Our close relationships with leading late-stage VC and growth equity investors as well as non-traditional capital providers, like family offices and sovereign wealth funds, enable us to find best-fit partners for a given scenario.
Valuation is only one part of the equation
When it comes to growth capital, valuation is only one side of the medal. We help to bridge incentive gaps between founders and investors and make sure you raise money on best possible terms.
We provide capital raising services across Malta and beyond
Sector expertise
Explore our VC fundraising offering across a variety of tech sectors in Malta.
Software
Vertical and horizontal SaaS, AI-native software products, infrastructure SaaS, cybersecurity
AI & ML
Foundation models, AI applications, AI infrastructure, semiconductors, AI consulting
Fintech
Neobanking, online payments, fintech infrastructure, lending platforms, wealth tech, online brokerage, vertical FS software
Consumer internet
Consumer software subscription platforms, edutech, online content, social networks, online dating
Digital media
Streaming platforms, mobile and console gaming, content distribution, digital publishing, VR & AR
E-commerce & marketplaces
Consumer and B2B marketplaces, inventory-based e-commerce, classifieds, lead generation platforms
Consumer products
Direct-to-consumer (D2C) brands, consumer electronics, smart home devices, lifestyle products
Mobility
Ridesharing, micromobility, food delivery, logistics tech, autonomous tech, EV charging infrastructure
Digital health
Digital therapeutics, telemedicine, mental health solutions, EHR and practice management, vertical healthcare SaaS
Industrial technology
Industry 4.0 solutions, 3D printing, climate tech, industrial IoT, robotics, smart manufacturing
Digital infrastructure
Data centers, cloud infrastructure, edge computing, network security, vertical infrastructure SaaS
IT services
Software development and testing, digital transformation, cloud services, advertising agencies, IT support services
Selected case studies
We've advised companies from series A to series D and beyond.
Our capital raising experience spans across various tech sectors and geographies.
We advised Elysian Fields on its investment into Orka, a Reykjavik-based portfolio of online consumer lending platforms, supporting deal structuring and growth-capital deployment in the Icelandic fintech market.
Recently completed VC fundraising projects
Selected capital-raising mandates and prior investment experience.
Got questions?
Schedule a call ordrop us an email to learn more about our CFO-as-a-service, capital raising and M&A advisory offering.
More services
We're with you before and after raising VC money: we help you organise your FP&A as fractional CFOs, and coordinate your M&A process.
Fractional CFO in Malta
We integrate into your workflows to help with financial modelling, build out FP&A tech stack, and ultimately provide guidance towards an M&A or raising venture capital.
Learn moreM&A in Malta
We advise winning tech companies on M&A exits, and over the years successfully executed numerous transactions with both financial and strategic buyers.
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