Crowdfunding
PrePay Real Estate Crowdfunding Closes its First 12 Months with €628,000 Raised
Those who invest in projects with the PrePay formula on their part immediately collect the entire interest generated by their investment and can then choose whether to invest it back into one of the platform’s other projects, thus taking advantage of the compound interest mechanism to increase their income, or transfer it to their own account.
PrePay Investimenti, a lending crowdfunding platform launched in 2021, has closed its first 12 months of operations with eight projects (2 pure real estate and 6 on business initiative), all successfully closed in a few days and always overfunded, for a total collection of $658,840 (€628,532).
PrePay, based in Milan, was founded by two 30-year-old entrepreneurs of Calabrian origin Pierluigi Benemerito and Antonio Fasanella from whom it was totally self-funded. Unlike the vast majority of lending crowdfunding platforms in Italy, which have Lemonway as their payment institution, PrePay relies on Mangopay.
Born2Invest’s team of journalists gathers the most interesting business headlines in a single mobile application. It’s impossible to keep up with everything you’re interested in, but our companion app will help you keep track of the important news. Our app is being updated throughout the day.
Investors in projects with the PrePay formula immediately collect the entire interest
Three of the funded projects have already come to a successful conclusion having been repaid both principal and interest, while on all of them the interest has been paid in advance, as per the PrePay formula, which is one of the distinctive features of the platform.
In projects that adhere to this formula, in fact, the proponent pays in advance, that is, immediately after the conclusion of the collection, the interest due to investors.
Those who invest in projects with the PrePay formula on their part immediately collect the entire interest generated by their investment and can then choose whether to invest it back into one of the platform’s other projects, thus taking advantage of the compound interest mechanism to increase their income, or transfer it to their own account.
It is a formula that actually seems to have met with the appreciation of users, who have grown significantly throughout the course of the year, reaching a total of 342 members at the end of last February, including 254 active investors, often on more than one project.
Having cashed in on its debut success, PrePay does not intend to stop and is relaunching. The goal, said the two founders is to “Reach $2.1 million (€2 million) in funding and 500 active investors by December 2022.”
__
(Featured image by JHertle 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.
-
Biotech1 week ago
Vytrus Biotech Reports Its Best Quarter: Record Revenue and Rising EBITDA
-
Cannabis9 mins ago
Legal Sale of Cannabis in Germany: Pilot Projects in Frankfurt and Hanover
-
Cannabis2 weeks ago
Ireland: Legislative Committee Calls for Legalization of Cannabis and Decriminalization of Drugs
-
Biotech6 days ago
Dijon Biotech Company Inventiva Raises 348 Million to Complete Its Phase III