JustUs has relaunched its platform to be incorporated for the US as well as the UK, has introduced a crowdfunding product to partner with other businesses, and is planning another fundraising campaign.
The peer-to-peer lender, which plans to roll out its P2P lending service on a state-by-state basis in the US next year, rebuilt its platform for multi-currency and has officially been incorporated for a US launch.
It has also launched Lending Rails, a feature where it partners with businesses to allow the business’s customers to be able to lend to each other, with the P2P platform handling the compliance.
The platform is finalising the terms for it to launch a joint crowdfunding campaign for the UK and US to trigger the government’s future fund conversion and convert the £1.3m it raised previously from equity into debt.
JustUs will be ready for the Bank of England’s central bank digital currency and the new platform contains details of the People’s Mortgage. The platform has been planning to launch P2P owner-occupied mortgages and the details are currently with the Financial Conduct Authority (FCA).
Read more: JustUs reopens secondary market
“We rebuilt the platform for multi-currency to incorporate a global rollout of our technology with Europe and the US being the immediate expansion,” said Lee Birkett, founder of JustUs.
“Lending Rails brings P2P to the masses. Big businesses with money the FCA wouldn’t give a license to can partner with JustUs and offer a lending service for their customers and we’ll power that with them through a trade license agreement.
“It’s for anyone with a large customer base, mainly the likes of Generation X that do everything on apps. The customer base can lend to each other on the click of a button rather than going to a bank. As long as they are willing to invest in compliance and infrastructure we’ll be working in partnership with them. The People’s Mortgage is also with the FCA now, the forms have gone in.
“Later this month we will be doing a global equity crowdfunding offering. We’re massively boosted by the government’s acceptance that central bank digital currency is happening which is global P2P money. We are central bank digital currency ready via our Moneybrain app.
“We’ve signed contracts to launch into the US and Canada, we are already established in Europe and Estonia. Crowdfunding rules in the UK, particularly P2P, have been frustrating and are becoming more restrictive but in Europe and the US they’re expanding and making it easier to onboard.”