London Based VC Downing, powered by ShareIn, closed their second deal in two days totaling £3.2m.
Venture capital specialist, Downing have added four bonds to its recently launched crowdfunding platform provided by our white label technology. The latest bonds are loans to established UK businesses and include a solar farm, an anaerobic digestion plant, an onshore wind farm and a selection of country pubs.
Our technology being used for bonds marks a significant addition to our product offering and we’re utterly thrilled by what Downing Crowd have been able to achieve.
We’re expanding our product range and aren’t just about equity crowdfunding anymore. We have many new projects on the horizon including three new property crowdfunding platforms and a community share platform to enable Fan ownership. It’s really exciting times for ShareIn.
FCA Crowdfunding Review
The success of the crowdfunded bonds coincides with the call for input to the post-implementation review of the FCA’s crowdfunding rules that came out on the 8th July. The Financial Conduct Authority are seeking input to ensure that consumers are sufficiently protected against the risks inherent in crowdfunding whilst supporting Fintech innovation in the industry. You can access the full paper here.
Christopher Woolard, the FCA’s director of strategy and competition, said: “The crowdfunding market is an innovative and growing sector and one which we see as part of promoting effective competition. We introduced rules in 2014 to ensure consumers were protected without preventing the market from enhancing competition through expansion and innovation.
“Since then the market has grown rapidly and we want to explore concerns that have been expressed about developments in some aspects of the market. We believe now is the right time to consider whether our requirements remain appropriate and that we have the right rules to support the development of this dynamic market by ensuring consumers are adequately protected.”
We have always been a strong advocate for financial regulation and ensuring that risks and potential returns are presented clearly. We take our responsibilities very seriously and feel that appropriate regulation is key in this industry.
You can read the full article in The Scotsman.