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.
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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.”
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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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