Crowd2Fund has announced it will soon relaunch its platform with an updated credit model and refreshed website, to scale and support businesses as part of its ‘Reboot Britain’ campaign.
The platform, which paused new listings and its secondary market in April and had hoped for a July relaunch, said even though it has not been issuing new loans during the Covid-19 pandemic, it has been busy improving and changing its platform offering.
As well as a full compliance review, focusing on support for active loans to businesses, and a re-work of its credit model, Crowd2Fund has also been working on refreshing its website, which will stay mobile friendly.
“It is important to us that our website is in line with the new look and feel with our new approach,” the platform said in a blog in its website.
“The entire platform has been carefully redesigned and re-written to ensure you can find the information you need quickly and easily. This is just one of many planned improvements over the coming year to help drive the growth and scale-up Crowd2Fund.”
Crowd2Fund also expects to see investors’ earnings maximised once it relaunches the platform as a result of more businesses making repayments since reopening from lockdown closures and the lender working on the recovery of pre-Covid-19 defaulting loans before they are written off.
“This approach coupled with our new loan monitoring process, should mean better returns and a higher recovery rate in the future,” the platform said in a separate blog.
“Currently, interest earnings still continue to be significantly higher than losses across the platform.”
As part of Crowd2Fund’s soon to launch ‘Reboot Britain’ campaign to support businesses and the economic recovery, the platform plans to scale-up to facilitate investment into 3,467 innovative firms annually.
The lender plans to grow its investor community to 36,352 investors who will invest a total of £277m into these businesses yearly, based on a capital injection of £10m.
Crowd2Fund said it is planning to deploy billions of pounds of private capital for high-growth entrepreneurs and businesses, which it believes is the future of our economy, and will provide a global marketplace which UK entrepreneurs can access.
“We see a future of UK businesses designing, innovating and producing new products whilst leveraging new and exciting global supply chains,” the platform said in a separate blog.
“Market access will be online, and the foundation of the marketplace will be fintech.
“It has been a challenging year and an unprecedented time for all of us, however, this does not mean we cannot seek to continue to deliver our plans to support entrepreneurial growth, especially in a time where it is needed more than ever.
“We are keen on making sure that we do our part for the economy and to help our fellow entrepreneurs – not only to bounce back, but to give them an opportunity to expand globally.”