Microcredito d’Impresa (MDI) has collected over (€756,000) on the Opstart portal, overfunding 202%. MDI decided to transform its business into a real online bank, creating the first micro-credit bank in Italy, which is why it launched an equity crowdfunding campaign on Opstart with a minimum funding target of $439,300 (€374,500), already widely exceeded, and a maximum of about $4.46 million (€3.8 million).
This is the second equity crowdfunding campaign for MDI, which last December raised over $2 million (€1.7 million) in its equity crowdfunding campaign on the BacktoWork platform. The campaign was launched on October 26th with a minimum target of $400,250 (€341,250) and a pre-money valuation of the company of around $2.05 million €1.75 million. The campaign resulted in a 50.12% distribution of shares, spread over 69 investors.
Read more details about the crowdfunding campaign of Microcredito d’Impresa and find the latest business news with the Born2Invest mobile app.
Microcredito d’Impresa is authorized by the Bank of Italy
Founded in December 2017 and operational since 2019, after obtaining authorization to operate from the Bank of Italy, Microcredito d’Impresa is headed by CEO Massimo Laccisaglia (who is also Chairman of i-RFK) and General Manager Diego Rizzato. The company is experiencing strong and rapid growth which has led it to reach Break Even Point in the second quarter of 2020.
Since October 2018, it has disbursed 180 loans for $5.28 million (€4.5 million) and is currently active in 9 regions with 40 tutors, i.e. external professionals who are responsible for both the start-up and post-grant monitoring.
As for funding, it does not stop at banks. The company works with some debt funds that will subscribe bonds in order to mix funding. Corporate micro-credit finances itself at an average cost of capital of less than 4%, while it provides loans with a TAN of 8.5% and an APR of 11.0%.
Microcredito d’Impresa was promoted by Francesco Rosetti (ad di Double Consulting srl, a management consulting company in the banking sector, part of the international group Expleo), Edit Service srl (a company linked to UIL, with extensive connections in the social and territorial fabric), Confartigianato Viterbo, Marco Ravaldi (ceo of First Data Italy, Fiserv Group), Diego Rizzato (with consolidated experience in the banking sector and microcredit), Novaria srl and Innovative-RFK.
The latter is an Italian investment company in innovative startups and SMEs, founded in 2017 by Paolo Pescetto, Massimo Laccisaglia and Andrea Rossotti, backed by the experience of Red-Fish Kapital, a company operating in the field of private equity investments with investments of about 50 million euros in club deal mode.
What microcredit to businesses means
Microcredit to businesses consists of loans up to a maximum of $41,000 (€35,000) granted to startups, small businesses, and professionals with less than 5 years’ seniority. To date, there are 13 microcredit companies supervised by the Bank of Italy. However, the opportunities for growth are important, given that there is an extremely favorable regulatory framework, consisting of the Decree of October 17th, 2014, no. 176, implementing art. 111 of the TUB no. 176/2014 and the implementing provisions of the Bank of Italy in 2015, which have given rise to a credit reserve for a new specialized subject, namely the microcredit operator, supervised informally by the Bank of Italy.
The regulation establishes that microloans are guaranteed by an 80% guarantee from the Guarantee Fund. There are also other intermediaries registered in the register ex art. 106 of the TUB of the Bank of Italy that make microcredit their main activity.
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.
Fimart Italia launches a crowdfunding campaign on Opstart
The Italian startup Fimart Italia has recently launched an equity crowdfunding campaign on Opstart with the aim to raise a...
The fintech sector helps accelerate nano-crediting in Colombia
There are already at least 40 entities in Colombia that offer liquidity to people outside the traditional financial system. In...
The importance of the supply chain in the ESG impact
ESG impacts on the supply chain vary greatly across sectors. Supply chains in the food sector account for 88% of...
10 proven Instagram marketing tactics B2B companies should use right now
People want to discover your content or profile. So creating a worthwhile profile is important. Ensure your username is unique...
Juaneda hospital to invest €21 million over three years to re-emerge from pandemic
Juaneda, the Balearic private hospital group is confident in its technological commitment to mitigate the negative impact of this pandemic...
Cannabis7 days ago
The Colombian bill to allow recreational cannabis use has been saved by one vote
Featured6 days ago
Top 5 digital banking ideas from today’s most innovative fintech companies
Cannabis5 days ago
First harvest of German medical cannabis is likely to be delayed again
Business7 days ago
Overvalued stocks head into the bunker