ShareIn to launch bespoke crowdfunding product after ending AR service
ShareIn is set to offer a bespoke crowdfunding product in response to client demand, as the white labelling platform moves away from its previous role as a principal for appointed representatives (ARs).
Since the start of the pandemic, ShareIn has received a number of one-off requests for bespoke crowdfunding sites for clients who did not want to use a dedicated platform but wanted to crowdfund from their own website.
“It looks like their own website but it’s a crowdfunding page that is actually run by ShareIn,” explained Jude Cook, chief executive and co-founder of ShareIn.
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“We handle the money, we onboard investors. We’ve seen quite a few people approaching us even though we don’t advertise it as a service.
“The page is embedded directly on their website so there’s flexibility there in terms of how much they’re looking to raise.”
This followed the platform’s decision to stop taking on Appointed Representatives (ARs) after a regulatory crackdown on speculative securities.
“We have changed our strategy,” Cook told Peer2Peer Finance News.
“Primarily we’re a tech business and we have been offering AR services as a good way for us to sell our technology. However, the FCA’s expectations on a principal are so onerous it doesn’t stack up for us financially anymore.
“We’re not offering AR services to any new clients.”
ShareIn has maintained just five of its ARs, none of which offer speculative securities.
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