CrowdLords in merger talks after “positive” year
Crowdfunding property platform CrowdLords is in discussions about a merger, with “significant changes” on the horizon, 18 months after ceasing regulated activity.
Chief executive and co-founder Richard Bush told Peer2Peer Finance News that the firm has had “a positive year”, and is focused on managing its existing investments through to completion and arranging investments for high net worth and sophisticated investors only.
“It’s been a positive year with many investments exiting successfully and because we are only serving existing qualified investors we can be very selective about the projects we support,” said Bush.
“We are planning some significant changes.”
In the 12 months ending 31 January 2021, CrowdLords made a profit of £7,498, despite closing the platform to new investment in August 2020.
The platform was operating as an appointed representative of ShareIn, but opted to cease regulated activity in 2020 due to the ban on the marketing of speculative illiquid securities.
At the time, Bush told Peer2Peer Finance News that CrowdLords was planning to relaunch with a focus on sophisticated and high-net-worth investors.
Bush said professional, high-net-worth and sophisticated investors represent 95 per cent of the platform’s investment volume and make up its core target audience.
He said that he was exploring a number of options, including finding an alternative principal firm, merging with another business or offering unregulated investments.
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