Richard Branson backs ‘Bank to the Future’

Via Telegraph.co.uk:

“Banks? Where we’re going, we don’t need banks.” That’s how Christopher Lloyd’s famous line from the end of the first Back to the Future film runs in Simon Dixon’s head.

The former investment banker is launching Bank to the Future (BTTF), the world’s first “peer-to-peer” market to allow businesses to raise debt, equity or donations from consumers and investors in one place.

While existing, but distinct, markets such as Funding Circle and Crowdcube, allow savers and small investors to directly invest debt or equity in small companies, BTTF allows business owners to raise different types of finance in one place — and even take money in return for products instead of shares or interest.

More at Telegraph.co.uk

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