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Peer2Peer Finance News | September 23, 2019

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ShareIn set to triple crowdfunding platform clients this year

ShareIn set to triple crowdfunding platform clients this year
Emily Perryman

SHAREIN, a software provider for online investment businesses, expects to double or even triple its crowdfunding platform client base this year.

The Edinburgh-based company, which was formed in 2011, provides white-labelled technology platforms and compliance solutions for online investment firms such as peer-to-peer lenders.

It recently announced it had won Triodos as its latest client, after the ethical bank decided to launch a crowdfunding platform focused on charities and businesses delivering positive social and environmental impacts.

Jude Cook, chief executive of ShareIn (pictured with co-founder Andrew Pickett), said it has several clients coming on board over the next few months, most of which are involved in crowd bonds and will be eligible for the Innovative Finance ISA.

Read more: P2P wholesale ban boosts business for wider crowdfunding sector

The majority of ShareIn’s clients focus on either property or renewable energy, such as Lendahand Ethex, which has raised over £2m for solar projects in Africa.

“Over the next year we’re set to at least double, and hopefully triple, in terms of the amount of clients, staff and revenue,” said Cook.

This growth would mirror that of 2017, when revenue increased by more than three times to around £700,000 in the 12 months to October. The number of clients also increased three-fold and its headcount rose from seven to 17.

Cook said the attraction for platforms is that ShareIn enables them to get up and running in six to eight weeks.

“By handing over the technology to us, platforms are able to focus on building their investor base,” Cook added.

Read more: Female entrepreneurs outperform male peers in crowdfunding campaigns

She said the platform is like a “safe pair of hands” for companies who are directly authorised with the Financial Conduct Authority (FCA).

Those who are unregulated can become an appointed representative of ShareIn, which is itself authorised and regulated by the FCA.

ShareIn is a founding member of the UK Crowdfunding Association and is based at Edinburgh’s CodeBase, the UK’s largest tech incubator.

Read more: Welendus launches new £150,000 crowdfunding campaign