In early October, lending crowdfunding platform EvenFi closed its first equity crowdfunding campaign by raising 632,500 euros. The round, placed on WeAreStarting, was attended by 223 investors, a record for WeAreStarting.
Diego Dal Cero, CEO, and co-founder of EvenFi, in thanking investors also wanted to thank the WeAreStarting platform, “without which it would have been impossible to share with EvenFi investors our growth path, therefore making it even more ambitious. That the crowd was a powerhouse capable of revolutionizing access to credit we knew well, but today we had the best proof of that.”
Carlo Allevi, CEO of the platform that hosted the collection, said, “We are very happy to have hosted EvenFi’s collection: we were able to allow so many small investors to become part of an ambitious fintech reality. At the same time we are proud to have helped increase the endowment of a startup that can do so much to support businesses in Italy and Europe with lending crowdfunding.”
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EvenFi is growing very rapidly. The now nearly 20,000 members of the community have invested a total of more than €29 million since the startup began operations in 2020, including nearly €3.5 million in the third quarter of 2022 alone.
While on the other hand, in terms of loans disbursed, as of September 2022, the platform has already financed more than 240 projects supporting nearly 150 companies with more than 20 million, including 7.5 million in 2022 alone.
The platform also offers a secondary market, on which €1.6 million was traded in the third quarter and a total volume of more than €8.6 million has been reached since its launch.
Investors have received repayments from companies of nearly €7.3 million in principal and €1.1 million in interest since April 2020. The principal repaid, therefore, represents nearly 37 percent of the total loans disbursed. Repayments that pertain to nearly 20 percent of the projects launched: in fact, there are 41 out of 240 projects that have fully repaid the principal to investors to date.
EvenFi, however, noted that the loan portfolio is affected by the current Italian and European war and energy crisis environment. The number of companies with problems or more than 30 days in arrears is now 24, accounting for 12.76 percent of total loans disbursed.
This, of course, has affected the performance of the loan portfolio, which, at the same amount invested, while on average since 2020 has been around 3.96 percent, in relation to loans disbursed in a single calendar year it has risen from 2.47 percent in 2020, to 5.40 percent in 2022.
EvenFI was founded in Bergamo, Italy in 2018 as Cryptalia by Diego Dal Cero and Mattia Rossi with the intent to democratize finance through technology. Its mission is to create a new financial future: simpler, free, and decentralized. Animating its work is above all the belief that investing in the growth projects of valuable enterprises means triggering a virtuous circle capable of having a positive impact on the real economy.
The platform makes it possible to invest in loans to SMEs through lending crowdfunding with a minimum amount of €200, without any fees, and with an interest of up to 9 percent on an annual basis.
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