Crowd2Fund is gearing up to list loans for its Reboot Britain campaign and launch its fundraising round, with future plans to offer full banking services, payments and auto-investing.
The peer-to-peer business lending platform, which at the end of last month started accepting loan applications after a five-month pause, is currently working on its deal pipeline for its Reboot Britain campaign that aims to support businesses and the economic recovery.
Crowd2Fund is looking to utilise the government’s future fund scheme to help scale up the platform and finance its Reboot Britain campaign.
The scheme offers convertible loan notes subject to equal match funding from private investors. Crowd2Fund is aiming to raise £5m, which would then be doubled to £10m thanks to the future fund.
The proceeds will be used to increase the platform’s number of investors and borrowers, and expand its borrower base internationally.
To take part in Crowd2Fund’s fundraising round, its investors can pledge their wallet balance or future repayments into the campaign.
An eight per cent APR return is being offered to investors who choose to take part, with four per cent paid monthly and four per cent paid on maturity of the investment.
Read more: Crowd2Fund secondary market remains closed
“We are open for business as usual!” Crowd2Fund said in a blog on its website.
“However, it will take some time to build up our deal pipeline as they have been paused and no new businesses have been listed for six months.
“We are working on it, and you will see new opportunities being listed alongside the Reboot Britain campaign soon.”
In the future, Crowd2Fund is planning to offer full banking services, payments, and auto-investing.
“We are eager to reignite the growth of forward-thinking UK businesses, and we’re inviting you to take part in helping us rebuild stronger than ever before,” Crowd2Fund said in the blog.
“As the platform continues to grow, we also plan to offer full banking services, payments, and sophisticated auto-investing — allowing investors to earn better returns at a lower risk.
“We believe that fintech holds the key to successful recovery from the economic challenges we’ve faced.
“Our campaign is a very practical way to support growing businesses and passionate entrepreneurs; who we will continue to rely on to revive our economy whilst giving UK businesses an international platform to scale.”