On Friday, November 10th, as the deadline imposed for the new European regulation expired, the equity crowdfunding platforms Backtowork and Crowdfunding, as well as the real estate lending crowdfunding platform Rendimento Etico, were also authorized.
This brings to 11 the number of Italian crowdfunding platforms that can operate under the new European regulation. In addition to the three mentioned, there are also Concrete Investing, BuildBull (which has not yet started operating), Fundera, Doorway, Yeldo Crowd, Walliance, Mamacrowd and Ener2Crowd.
Read more about the new European Regulation and the latest platforms authorized, and find the latest financial news of the day with the Born2Invest mobile app.
CrowdFundMe authorized under the new European Regulation
Crowdfundme, which to date has raised 85 million by funding over 170 projects, has been authorized under the new European Regulation for equity crowdfunding. As a reminder, the company has acquired the real estate lending platform Trusters for which a separate authorization has been requested and is still pending.
In a note sent to users, CrowdFundMe stressed that a new profiling process will be implemented on the site, with the aim of increasing investor protection and awareness. Subsequently, depending on which category of investor one falls into, the user may also be given an updated appropriateness questionnaire.
For companies, a new document collection process will be introduced during the onboarding phase, aimed at fostering transparency. Finally, he noted that the web portal will be updated so that it is compliant with the regulation, and new investment opportunities will be launched once the update is finished.
BacktoWork, another historic equity crowdfunding platform, has raised 47 million for 136 projects to date
The platform announced its authorization under the European Regulation in an email to its users, “Backtowork is officially a platform authorized to operate under the new European crowdinvesting regulation!
Thanks to this regulatory change effective from today, the market will be able to develop further, expanding its boundaries and increasing opportunities for companies and investors. Many thanks to all investors and companies who have put their trust in us so far!”
Rendimento Etico is the first real estate lending platform to be authorized under the new regulation. To date, the platform has raised over 83 million by financing 273 real estate projects.
Lucijana Lozancic, CEO of Rendimento Etico, said in a post on LinkedIn, “Today we have reached an exceptional milestone in our history: we have officially obtained the European license to continue operating as a crowdfunding service provider in the real estate sector. We are proud to be the first licensed one specializing exclusively in real estate lending. This success is the result of the tireless dedication of our in-house team and legal experts who have worked tirelessly, day and night, to achieve this goal.”
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