Connect with us

Crowdfunding

EvenFi, the First Italian Crowdinvesting Platform Authorized Under the New EU Regulation

EvenFi most likely sought authorization in Spain not only because it operates there, but also because it is not yet possible in Italy. Last October, the platform raised €632,000 with an equity crowdfunding campaign on WeAreStarting, having reached in September, the milestone of €20 million loans disbursed since its launch on the market.

Published

on

Last November 17th, EvenFi, an Italian lending crowdfunding platform for businesses, obtained authorization from the CNMV (Comisión Nacional del Mercado de Valores, the equivalent of the Italian Consob) to operate throughout Europe under the new EU regulations.

After expanding into Spain, the Bergamo-born investment platform will, therefore, have the regulation to operate not only in Italy and Spain, countries where it is present, but also throughout Europe. Thanks to the authorization obtained, EvenFi becomes the first Italian lending crowdfunding platform authorized to offer its technologies at the service of businesses and savers throughout Europe.

Read more on teh subject and find the most important business news of the day with our companion app Born2Invest.

The platform also achieves this primacy in the Spanish market

There the only other regulated entity, Crowdcube, however, operates in equity crowdfunding.

Diego Dal Cero, CEO, and founder of EvenFi, commented, “It’s been a while since the new European crowdfunding regulation emerged as a major player in our industry’s debates. Before then, we had already started working relentlessly to fully realize our international vocation and bring closer the dream of being able to offer our services throughout Europe. At the moment, this dream is even closer. EvenFi’s approval by the CNMV means that our platform is literally one step closer to becoming one of the first European platforms and the first Italian platform to be regulated to offer its services throughout Europe for the benefit of savers and businesses. Delighted to be able to demonstrate the value of Made in Italy abroad even in an innovative sector like FinTech and to have the opportunity to support the real economy on an even larger scale.”

Why in Spain and not in Italy?

EvenFi most likely sought authorization in Spain not only because it operates there, but also because it is not yet possible in Italy.

SEE ALSO  Direct cobalt supply a priority for Apple

It is true that last August 26th, the enabling law approved by Parliament to transpose the EU Regulation on crowdinvesting (EU Regulation 2020/1503) was published in the Official Gazette, but it is, precisely, a delegation to the government to enact implementing decrees to bring Italian laws into line with certain guiding principles contained in the law itself.

The enabling law came into effect last September 10th, but elections, the installation of the new government, and the priority emergencies it had to deal with further delayed the issuance of the implementing regulations, thus blocking the possibility for Italian platforms to apply for authorization to operate in Europe.

EvenFi was founded in 2018

EvenFi was founded in Bergamo in 2018 under the name Criptalia, later changed in October 2021, by Diego Dal Cero and Mattia Rossi with the aim of democratizing finance with technology. The company allows people to invest in SMEs through lending crowdfunding with a minimum amount of €200, with no fees, and earning up to 9 percent annually. From the beginning of 2021 to the end of September, the platform has financed 79 companies, disbursing €9.5 million. The startup operates as an agent for the payment institution MangoPay.

As BeBeez.it reported, EvenFi is one of the startups, along with Fintastico, Bit&Coffee, Biofarm, and Latitudo 40, in which CRIF, a Bologna-based group specializing in credit information, invested €610,000 last May. The deal had taken place as part of the first edition of I-Tech Innovation 2021, the call launched by Crif and Fondazione Golinelli for innovative startups in three strategic sectors.

SEE ALSO  Biotechs receive one-third of the milestone payments provided for in licensing agreements

Last October, the platform raised €632,000 with an equity crowdfunding campaign on WeAreStarting, having reached in September, the milestone of €20 million loans disbursed since its launch on the market.

__

(Featured image by dimitrisvetsikas1969 via Pixabay)

DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.

This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.

First published in Crowdfunding buzz a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.

Jeremy Whannell loves writing about the great outdoors, business ventures and tech giants, cryptocurrencies, marijuana stocks, and other investment topics. His proficiency in internet culture rivals his obsession with artificial intelligence and gaming developments. A biker and nature enthusiast, he prefers working and writing out in the wild over an afternoon in a coffee shop.