Executive Summary
BeToken represents a unique investment opportunity where you don’t simply purchase an abstract financial product—you become a genuine owner of five established and profitable e-commerce brands operating in Spain, France, Italy, Germany, and expanding into the United Kingdom. This is a security token offering (tokenised actual shares, not cryptocurrency) regulated by:
- MiFID II (Markets in Financial Instruments Directive) – European regulatory framework
- LMVSI (Law 6/2023 on Securities Markets) – Spanish implementation of MiFID II
- ESI Supervision (Gabriel Murillo Capel EAF, S.L.) – Investment Services Entity
This enables Beself Brands to be the first European company to tokenise 100% of its capital under European securities regulation, fully complying with international regulatory standards.
Regulatory Framework: MiFID II + LMVSI
Why MiFID II Matters
MiFID II (Markets in Financial Instruments Directive II) is the European regulation governing all investment services in the European Union. It is the European equivalent of the SEC in the United States.
Coverage:
- Applies to all EU Member States
- Covers any financial instrument offered to European investors
- Establishes consumer protection standards
- Requires transparency, risk disclosure, and suitability checks
How MiFID II Protects Your Investment in BeToken
| MiFID II Principle | How It Applies to BeToken |
|---|---|
| Transparency | All information must be transparent, fair, and not misleading |
| Risk Disclosure | Risks (liquidity, loss, volatility) must be explicit |
| Suitability | The ESI must verify that the investment is appropriate for you |
| Security of Deposits | Funds are held in secure custody |
| Dispute Resolution | Precise mechanisms for resolving disagreements |
| Periodic Information | Regular reports on your investment |
| Separation of Assets | Your funds are separated from the company’s |
LMVSI: The Spanish Implementation of MiFID II
LMVSI (Law 6/2023) is the Spanish law implementing MiFID II at the national level. It is stricter than MiFID II in some aspects.
What LMVSI Requires for BeToken:
- Registration of securities (BeToken is registered with CNMV)
- Designation of ERIR (Ursus-3 Capital manages the register)
- Clear offering document (The Whitepaper meets these requirements)
- ESI supervisor (Gabriel Murillo Capel validates and supervises)
- Audit of accounts (Beself audits voluntarily)
- Quarterly reporting (Committed to public KPIs)
- Investor protection (Guarantee fund available)
Protection Standards That Apply
MiFID II + LMVSI Protects You With:
- Clear information and transparency duties
- Risk warnings adapted to the product
- Suitability and appropriateness assessments
- Regulated intermediaries and custodians
1. The Five Businesses Under BeToken
Understanding what you’re actually investing in is fundamental to making informed decisions. Each brand is distinct, profitable, and operates in high-demand consumer markets.
FitFiu
Sector: Home fitness equipment and sports
Launched: 2011 | Business Valuation: €10,395,000
FitFiu makes fitness accessible by providing equipment for beginners and home training—stationary bikes, walking pads, treadmills, yoga accessories, and fitness equipment. Rather than competing in premium luxury fitness equipment, FitFiu focuses on the masses who wish to stay fit at home.
The brand centres on affordability without sacrificing quality and sits at the intersection of the home fitness boom and the European wellness movement. A significant part of the €21M 2023 sales comes from FitFiu, with expansion into French and German markets in phase 1.
Website: https://www.fitfiu-fitness.com
Greencut
Sector: Garden machinery, workshop, and DIY tools
Launched: 2009 | Business Valuation: €9,720,000
Greencut specialises in garden, workshop, and DIY machinery—brush cutters, robotic lawnmowers, blowers, log splitters, chainsaws, and professional hand tools. All products are designed internally with patented engineering.
Rather than reselling standard tools, Greencut manufactures its own designs, controlling quality and margins. It has driven Beself’s early e-commerce expansion and shows strong performance, especially in Spain and Germany via marketplaces such as Mano a Mano.
Website: https://www.greencut-tools.com
Beeloom
Sector: Educational toys and children’s furniture
Launched: 2019 | Business Valuation: €829,400
Beeloom combines educational toys and children’s furniture using Montessori methodology—balance bikes, building sets, learning towers, educational games, high chairs, and didactic materials. It targets modern parents who view childhood as a critical learning phase.
Montessori methodology is a strong differentiator in a crowded children’s market. Products teach through play while maintaining modern aesthetics, and the brand quickly reached maturity through specialist partners such as BébéBoutik.
Website: https://www.beeloomkids.com
Playkin
Sector: Children’s electric vehicles and play toys
Launched: 2017 | Business Valuation: €351,500
Playkin offers electric cars and motorcycles for children—high-quality replica vehicles of popular brands that combine entertainment with learning through outdoor play.
Although the electric toy vehicle market is competitive, Playkin focuses on recognisable replica designs and higher quality than mass-market alternatives, achieving strong growth particularly in Spain and France.
Website: https://www.playkinkids.com
McHaus
Sector: Home décor, furniture, and living accessories
Launched: 2013 | Business Valuation: €2,070,000
McHaus offers home décor and furniture solutions, including air conditioning units, storage organisers, lounge furniture, chairs, sofas, and gaming accessories, positioned as a practical-with-style option for modern European homes.
The brand bridges the gap between budget and design through partnerships with marketplaces such as Maisons du Monde, reaching customers seeking quality home products at accessible prices, with a strong presence in France and broader EU markets.
Website: https://www.mc-haus.com
2. Company Traction and Key Metrics
BeToken does not represent a startup hypothesis; it represents ownership in a mature, profitable company with nearly three decades of operational experience.
The Success Track Record
| Milestone | Year | Achievement |
|---|---|---|
| Start-up Phase | 1996 | Albert Prat begins selling from home through classifieds |
| eBay Era Begins | 2003 | Transition to online, opens first eBay account |
| First Brand Launched | 2009 | Greencut created; first warehouse (500m²); €900K in sales |
| European Expansion | 2011 | FitFiu launched; warehouse expands to 3,600m²; €3M in sales |
| Marketplace Scaling | 2017 | Playkin launched; Amazon added; warehouse expands to 7,000m²; €17M in sales |
| Complete Diversification | 2019 | Beeloom launched; warehouse expands to 15,000m²; €21M in sales |
| Strategic Rebranding | 2023 | Unified Beself Brands identity; repositioning under a single vision |
| Token Offering | 2025 | BeToken launched to finance €7.96M expansion plan |
Total Valuation of the Five Brands
| Brand | Valuation |
|---|---|
| Greencut | €9,720,000 |
| FitFiu | €10,395,000 |
| McHaus | €2,070,000 |
| Beeloom | €829,400 |
| Playkin | €351,500 |
| TOTAL | €23,365,900 |
3. The BeToken Business Model: Simplified
BeToken is not a cryptocurrency or speculative digital asset. It is tokenised ownership in a genuine Spanish company regulated under MiFID II and LMVSI.
Capital Allocation: Where Your Money Goes
The €7.96M raised is strategically allocated to strengthen the balance sheet, improve technology, and support growth.
| Use | Amount | Purpose |
|---|---|---|
| Stock Inventory | €2.0M (25%) | Inventory buffer for rapid fulfilment across Europe |
| Debt Reduction | €3.7M (47%) | Reduce dependence on bank loans, lower interest costs |
| Technology Infrastructure | €650K (8%) | Cloud, servers, cybersecurity upgrades |
| Website Development | €300K (4%) | AI-driven customer experience, multi-brand integration |
| Internal Controls | €300K (4%) | Audit-ready financial systems, compliance |
| Legal/Admin Costs | €185K (2%) | Capital increases bureaucracy |
| Exchange Listing | €150K (2%) | Bring BeToken to secondary markets for trading liquidity |
| Token Liquidity Reserve | €500K (6%) | Ensure you can buy/sell tokens without difficulty |
| Other | €98K (1%) | Contingencies and extras |
4. Ownerocracy: The Paradigm Shift in Investment
Ownerocracy is a model that democratises access to investment, allowing anyone to become a genuine owner of an established company, turning investors into ambassadors instead of passive shareholders.
5. The Unique Value Proposition: Why BeToken Stands Out
vs. Traditional Stock Market
| Aspect | Stock Market | BeToken |
|---|---|---|
| Access | Expensive brokers, high minimums | €100 minimum, direct purchase |
| Transparency | Quarterly reports, regulatory filings | Quarterly report + AMAs + Ownerocracy + Community |
| Ownership | Anonymous shares | Direct, registered ownership with voice |
| Geography | Global corporations | Local European company, you understand |
| Regulation | SEC (US) or equivalents | MiFID II + LMVSI (European) |
vs. Cryptocurrencies
| Aspect | Crypto | BeToken |
|---|---|---|
| What You Own | Digital currency (volatile) | Real company ownership (stable) |
| Value Basis | Speculation and adoption | Real revenue, profit, assets |
| Regulation | Minimal/unregulated | MiFID II + LMVSI (ESI Supervision) |
| Dividends | None | Yes, 50% of profits from 2027 |
| Risk | Extreme volatility | Normal business risk |
| Community | Speculators | Owners (Ownerocracy) |
vs. Other Security Token Offerings
| Factor | BeToken | Typical STO |
|---|---|---|
| Regulatory Status | MiFID II + LMVSI, ESI supervised, 100% tokenised (unique in Europe) | Often grey regulation or under crypto |
| Company Maturity | 29 years, €21M revenue, €23.4M in brand valuations | Pre-revenue or early stage |
| Founder Commitment | Lock-up 10% annual 4 years | Often minimal skin in-game |
| Participatory Governance | Ownerocracy: Owners have a real voice | Passive, limited information |
| Transparency | Quarterly + AMAs + public KPIs | Minimal |
6. Financial Projections and the Revenue Model
The three-phase plan over six years covers marketplace expansion, direct-to-consumer shift, and UK market entry, targeting higher sales and margins.
| Year | Sales | EBITDA | EBITDA % | Net Profit | Dividend per Share |
|---|---|---|---|---|---|
| 2025 | €22.9M | €525K | 2.3% | €57K | — |
| 2027 | €38.0M | €2.97M | 7.8% | €1.86M | €1.4M total |
| 2029 | €61.7M | €12.5M | 20.3% | €4.3M | €3.1M total |
| 2031 | €95.8M | €11.6M | 12.1% | €8.4M | €4.2M total |
7. Returns for Investors: The Numbers
The expected total return in six years is 34.6%, equivalent to approximately 5.1% annualised, based on conservative projections backed by operational performance rather than pure speculation.
8. How Token Technology Works (Simple Version)
BeToken uses token technology to represent traditional shares in digital form, under Spanish and European legal frameworks, combining the efficiency of blockchain rails with MiFID II and LMVSI oversight.
9. Corporate Governance and Founder Commitment
Who Owns What Today
| Shareholder | Ownership | Notes |
|---|---|---|
| EMEI GROUP (Albert Prat’s holding company) | 57.34% | CEO & Founder’s vehicle |
| Christian Bouwer | 18.69% | Co-founder, strategic investor |
| Mireia Calvet Vergés | 6.42% | CEO & Administrator, co-founder |
| María Trinidad Asensio | 0.42% | Early investor |
| Jordi Tàpies | 0.48% | Investor/adviser |
| New Investors (via BeToken) | 16.65% | You will own this portion |
10. Token Sale Structure and How to Invest
The Offering Details
| Aspect | Details |
|---|---|
| Token Name | BeToken (BTK) |
| Type | Security token (real share ownership) |
| Total Issued | 17,841,900 tokens |
| For Sale | 2,971,200 tokens (16.65% of the company) |
| Nominal Value | €0.01 per token |
| Current Price (final phase) | €2.75 per token (until 31 December 2025) |
| Minimum Investment | €100 |
| Total Funding Target | €7,962,816 |
| Launch Date | 23 July 2025 |
11. Important Regulatory Warnings (MiFID II + LMVSI + CNMV Circular)
Investment services regulation under MiFID II and LMVSI requires warnings on liquidity risk, total loss risk, lack of deposit guarantee coverage, limited information versus listed companies, evolving regulation, counterparty risk, suitability assessment, and conflicts of interest management.
12. Secondary Market: The Current Reality
There is currently no active secondary market where you can easily sell your Betokens. Any future listing on an exchange is a plan, not a guarantee, and investors must understand that liquidity is limited at this stage.
13. What Makes BeToken Different
| Aspect | Why It Works |
|---|---|
| Real Ownership | You own shares in authentic brands (FitFiu, Greencut, Beeloom) that people use daily |
| Proven Track Record | 29 years, €21M revenue, 60 employees, €23.4M in brand valuations |
| European Play | Expansion to larger markets (France, Germany, UK) with massive TAM |
| Clear Path to Scale | 3-phase plan to reach nearly €100M revenue in 6 years |
| Founder Aligned | Founders locked with annual sale caps and long-term commitment |
| Regulated and Safe | ESI supervision under MiFID II + LMVSI; first 100% tokenised in Europe |
| First Mover | Unique in its class: first company with 100% tokenised capital under European MiFID II |
| Early Access | Final phase: last investors in the seed-style round |
| Dividend Upside | 50% profit distribution from 2027; expected return 34.6% over 6 years |
| Authentic Story | Founders built real brands instead of chasing buzzwords |
| Ownerocracy | You are a participatory owner with a voice in decisions |
| MiFID II Compliance | Under strict European financial regulation, not unregulated crypto |
14. Summary
BeToken offers a secure, regulated path to owning a piece of thriving e-commerce brands, combining traditional business fundamentals with innovative tokenisation and participatory governance under European financial regulation.
