Recrowd, Italy’s leading real estate lending crowdfunding platform, has reached the first €100 million in capital raised since its launch at the end of 2019. It is the first Italian lending portal to surpass this milestone.
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The €100 million in capital has made it possible to finance 162 projects on the Italian territory, helping local small and medium-sized businesses in their development and redevelopment projects, with an average collection per project of about €600,000. A rather high average for the sector, which stands at €264,000.
The growth in the collection has been impetuous: from €1.6 million in 2020 to €13.4 million in 2021, €32.2 million last year, and €52.5 million in 2023, which will thus close with further room for growth.
According to data from the Crowdfunding observatory, the average interest rate on an annual basis paid to investors was 12.34 percent for an average term of 11.8 months. The average investment was about €5,000.
“Since the beginning, our goal has been to promote a sustainable platform model, prioritizing the quality of projects and transparency of information,” explains CEO, Gianluca De Simone. “The 100 million milestone represents an important milestone, not of arrival, but for a new start aimed at engaging different actors who, in the past, have doubted this tool.”
Who is Recrowd
Recrowd was founded in March 2019 by experts in finance, real estate, and technology: Gianluca de Simone (CEO), Simone Putignano (CFO), and Massimo Traversi (COO). It entered the Speed MI Up incubator at Bocconi University of Milan in February 2019.
In August that year, Recrowd raised €418.880, on the Opstart platform, against a minimum target of €50,000, based on a pre-money valuation of 3 million euros.
In September 2021 Esperia Investor, a holding company founded by Emiliano di Bartolo and Antonio Ferrara, which invests in early-stage, high-tech companies mainly in the real estate and financial services sectors, chose to invest in Recrowd.
According to reports to BeBeez and Crowdfunding Buzz, a 43 percent stake was sold by an early-stage investor in the platform.
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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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