Finnexta, the equity crowdfunding portal of Innexta, the company of the Italian Chambers System, a benchmark in finance and credit for SMEs, has successfully closed its first equity crowdfunding campaign.
This was the round of Re-Lender, a lending crowdfunding platform, which exceeded the maximum goal of €1 million, raising a total of €1.02 million.
There were 289 investors who contributed to the collection, with an average investment, therefore, of about €3,500 each against a pre-money valuation of €12.12 million. A result that seems to confirm the growing interest in equity crowdfunding as a tool to support promising initiatives in fintech.
Read more about Re-Lender and find the most important business news of the day with the Born2Invest mobile app.
Who is Re-Lender
Re-Lender, launched in 2019, is one of the leading players in the Italian lending crowdfunding market. The brainchild of two entrepreneurs Paolo Manetta and Francesco Marella, Re-Lender has helped finance more than 35 Italian businesses with more than 33,000 small and medium-sized investors determined to support the real economy, amounting to more than €35 million.
As of May this year, 48 out of 139 funded projects have been repaid, amounting to €12,637,500, and the average interest of the deals was 8 percent.
The main driver of RE-lender is conversion. In fact, the projects that are published on RE-Lender are exclusively about companies that carry out industrial, ecological, and real estate reconversions. The goal is to link profitability to sustainable and technological transition, but also to reuse and redevelopment of buildings or brownfield sites.
For this reason, RE-Lender projects are selected and currently identified according to 6 categories: RE-CONVERT, RE-GREEN, RE-URBAN, RE-BUILD, RE-DIGITAL, RE-FINANCE, RE-THINK, RE-START.
How the funds raised will be used
Funds raised during the campaign will help consolidate the Italian market share as well as Re-Lender’s entry into two new markets, Spain and Portugal.
They will also help support the development of the business plan with a view to listing on the London Stock Exchange in 2024.
In a statement, Innexta points out that this success is a clear example of how equity crowdfunding campaigns have become one of the most innovative forms of financing, and its positive outcome confirms the growing interest of Italian companies and investors in the alternative finance sector to the banking channel, a trend that has been observed in recent years.
Innexta President Giovanni Da Pozzo said, “In times of credit crunch and rising rates, raising over €1 million from a few hundred private investors is certainly a great success. Innexta’s mission is to support the growth of Italian SMEs through the use of new alternative finance products. The Finnexta platform is a concrete example of this.”
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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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