European peer-to-peer lending platform Twino is set to launch its first crowdfunding round to raise funds to grow the platform and launch new products.
The firm said the campaign is set to go live later this month and potential investors can register now to gain early access ahead of the public launch.
It said the funds raised will be used to launch new products and further expand its investment brokerage across Europe.
Read more: Twino reaches €1bn funding milestone
“Having secured an investment brokerage firm licence last year to become a full-fledged brokerage, Twino expansion includes an upgrade into a digital app for European retail investors that will combine all types of assets in one place,” said Anastasija Oleinika, chief executive of Twino Investments.
“Such assets as equities, bonds, CFDs, ETFs, crypto, and others will all come with an Impact score and offer a personalised approach.”
Read more: Twino has stopped accepting new UK clients
Twino said the funding round is aimed at millennials as they are looking for the latest technology, convenience and diversification.
“While the number of retail investors has doubled since 2020, retail investor participation still makes up only five to seven per cent of total trading volume in Europe, compared to more than 25 per cent in the US, so there’s a huge market opportunity,” said Armands Broks, founder and sole shareholder of Twino.
“Younger generations are seeking to align their choices with their values, including financial and investment decisions. It’s one of the reasons for the growing interest in impact investing.
“While there are already some start-ups that offer passive fund management based on impact scores, we are planning to be among the first to offer active investing with this feature.”
Twino was founded in 2015 and now has 58,000 users from more than 30 countries. It has funded over €1bn (£850,000) of loans.