Italy Crowd and Bridge Asset Agree to Merge their Real Estate Lending Crowdfunding Platforms

Italian real estate crowdfunding has begun the concentration process. Italy Crowd , after having filed the application with Consob, in order to obtain authorization pursuant to the new European Regulation, in recent days has given up on continuing the authorization process and has communicated that it will begin a collaboration with Bridge Asset , which, instead, had obtained authorization on January 31st.

This agreement will create a real estate crowdfunding hub capable of offering numerous services thanks also to the great professionalism that distinguishes the two platforms.

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The users and proponents of Italy Crowd will thus be able to continue their activities, respectively investment and collection, in the best possible way and without interruption

Italy Crowd investors will be able to register on the Bridge Asset portal and open a wallet preferentially, receiving an additional bonus of 0.5% on their first real estate investment.

Italy Crowd specified to Crowdfunding Buzz that the normal reimbursement activity of projects financed by investors to Italy Crowd Proponents will continue until December 2024.

Who is Italy Crowd

Italy Crowd was launched in Italy on January 12, 2015, importing a business model authorized in Switzerland. The founder Augusto Vecchi launched Swiss Crowd in 2014, the first real estate crowdfunding platform in Switzerland which he then exported to our country the following year.

At the time, crowdfunding was not yet regulated, so Italy Crowd was born with a hybrid business model, where the collection was carried out by a maximum of 20 investors.

In August 2020, Italy Crowd aligned with current legislation by becoming payment agent for the Lemonway payment institution and, again in 2020, the portal launched the first native blockchain real estate lending crowdfunding platform in Europe.

Since its launch, the platform has helped finance 45 projects for more than 4 million euros.

The founding members of Italy Crowd are Augusto Vecchi, Luana Leonini (majority shareholder), Andrea Gianninoni, Simone Mannelli, Paolo Siligoni (CEO of Swiss Crowd).

Who is Bridge Asset

Bridge Asset is one of the largest real estate lending crowdfunding portals, operational in Italy since 2020 and was authorized under the new EU regulation on January 31st.

From 2020 to today, the portal has financed 93 projects with 23 million raised and therefore with average tickets of 248 thousand euros.

The company that manages the platform is Bridge Real Estate Srl, based in the province of Como, whose capital is 100% held by Eleonora Magalotti, founder of a legal consultancy firm in Milan and whose advisory board is made up of experts in the sector among which Alfio Bardolla, a well-known real estate trainer and investor, and the lawyer stand out. Alessandro Lerro of Avvocati.net.

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(Featured image by moerschy via Pixabay)

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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.

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