Recrowd and TPPay Launch Embedded Finance Partnership to Revolutionize Crowdfunding

Recrowd, a leading real estate lending crowdfunding platform in Italy, and TPPay , an Electronic Money Institute (IMEL) supervised by the Bank of Italy, are launching a strategic Embedded Finance partnership to enhance and make the services offered to investors even more complete.

The agreement marks the evolution of the Recrowd platform into a Banking as a Service ecosystem , with the aim of providing users with a complete solution, even more transparent and with immediate benefits.

The contents of the Recrowd-TPPay partnership

Specifically, the partnership between Recrowd and TPPay sees the introduction by Recrowd of payment accounts with an Italian IBAN “powered by TPPay” whose funds are deposited in a special account for the protection of customers at a third-party bank, replacing the previous digital wallets.

With the adoption of payment accounts, Recrowd strengthens the guarantees to protect investors by assuming the complete management and direct governance of the cash flows of the financed operations.

In this way, the platform strengthens the monitoring of the state of the art of the campaigns and the use of the funds raised, with real-time updates on the use of the funding provided for individual projects and for the specific activities that compose them and with periodic reporting to users.

Furthermore, the new Embedded Finance architecture allows those who wish to finance a campaign to make instant transfers , which eliminate the technical authorization and activation times required by the digital wallet system used up to now.

The first step towards further services

The introduction of payment accounts on the Recrowd platform represents the first step in the partnership with TPPay which foresees, progressively, the development of further services in the Banking as a Service sector.

Gianluca De Simone, CEO of Recrowd, emphasizes: “The partnership with TPPay represents a very important milestone for Recrowd, which makes us particularly proud of this new development. With the introduction of payment accounts, we want to provide our investors with a distinctive service in the market that is increasingly complete and secure”.

“The collaboration with TPPay – continues De Simone – can really contribute to a general evolution of the entire crowdfunding and lending crowdfunding segment, changing the traditional paradigms and making this tool increasingly accessible and innovative” .

Alfonso Catone , Chief Commercial Officer of TPPay, said: “We are excited about this collaboration with Recrowd, which represents a significant step in the evolution of Banking as a Service in the crowdfunding sector. This project, in collaboration with a market leader like Recrowd, demonstrates our commitment to supporting the growth of the Italian crowdfunding ecosystem”.

Who is TPPay?

TPPay is an Electronic Money Institution (IMEL) authorised and supervised by the Bank of Italy, authorised to issue electronic money (prepaid cards or wallets) and to provide payment services, including the opening of payment accounts for the benefit of consumers or business customers.

It is a company of the TAS group, a leading ICT company in the supply of specialized solutions and services for the management of payment systems, electronic money and financial markets.

Payment accounts opened at IMEL are equipped with an Italian IBAN and have the same functions as a bank current account with regard to the execution of payment transactions.

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(Featured image by Jonas Leupe via Unsplash)

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