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Soisy launches its third crowdfunding equity campaign on 200Crowd

The fintech company Soisy has recently launched its third crowdfunding campaign on 200Crowd. The campaign has a minimum collection target of $583,000 (€495,000) and a maximum of $1.82 million (€1.54 million). Soisy has been operational since May 2016, and the first campaign closed by the company was in November 2018 with a collection of $1.47 million (€1.25 million).

Desmond O'Flynn

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The Italian fintech company Soisy, a platform offering installment payment services for e-commerce purchases, financed by private investors, has launched a new equity crowdfunding campaign on 200Crowd. 

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The company had already collected subscriptions worth $1.6 million (€1.36 million)

The campaign has a minimum collection target of $583,000 (€495,000) and a maximum of $1.82 million (€1.54 million), compared to a pre-money valuation of $18.8 million (€16 million). To date, the campaign has collected subscriptions for $1.6 million (€1.36 million) (of which $632,000 (€536,000) confirmed, from 333 investors). The crowdfunding campaign will partially finance the new capital increase of Soisy, worth $2.95 million (€2.5 million), aimed at investing in the startup product, in light of the market growth.

This is the third crowdfunding campaign on 200Crowd launched by the company, which in early 2020 raised about $2.6 million (€2.2 million) through another campaign launched in November 2019. On that occasion the pre-money valuation was about $11.7 million (€9.9 million). The first campaign was closed in November 2018 with a collection of $1.47 million (€1.25 million).

Soisy has been operational since May 2016, when it obtained authorization from the Bank of Italy to operate as a payment institution. It is an innovative startup founded by the former head of risk management of Bnl, Pietro Cesati, together with the former colleague of risk management of Bnl, Andrea Sandro.

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It was initially financed with $1.53 million (€1.3 million) raised among the founders and other private investors (the co-founder Pietro Cesati and his family control 30% of the capital), while another million was collected thanks to the winning of the Invitalia Smart&Start tender. 

Soisy has the authorization to operate since 2016

In December 2017, the startup closed a capital increase of $1 million (€891,000), collected among the old shareholders and new entrepreneurs and professionals. Last April, the startup integrated its purchase financing solutions into the Fabrick open banking platform, publishing its API. Soisy closed 2019 with $171,000 (€145,000) in revenues and aims at $423,000 (€359,000) by the end of 2020. The breakeven is expected in 2022.

Soisy is an innovative startup founded in April 2016 by the former head of BNL risk management, Pietro Cesati, together with the former colleague of Bnl risk management,  Andrea Sandro. The startup obtained authorization from the Bank of Italy in spring 2016 to operate as a payment institution and was financed with $1.53 million (€1.3 million) collected between the founders and other private investors (Cesati and his family control 30% of the capital), while another million euros had been collected thanks to the winning of the  Invitalia Smart & Start tender.

In November 2017, Soisy changed its business model, transforming itself from a classic lending platform to a platform for loans provided by individuals to individuals who buy through stores and e-commerce partners. Basically, the procedure for those who want to invest by lending money to other people remains unchanged. On the contrary, it is no longer possible for applicants to apply for a loan through the online portal, but it is necessary to go through the purchase of a good or service at a store (physical or digital) or a professional partner of Soisy.

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(Featured image by Prostock-studio via envatoelements)

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First published in BeBeez, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

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Desmond O’Flynn believes in minimalism and the power of beer. As a young reporter for some of the largest national publications, he has lived in the world of finance and investing for nearly three decades. He has since included world politics and the global economy in his portfolio. He also writes about entrepreneurs and small businesses, as well as innovation in fintech, gambling, and cannabis industries.