Recently launched crowdfunding platform, Downing Crowd, an offshoot of London-based VC firm Downing, is finding success with its new platform. Powered by Edinburgh-based ShareIn, Downing Crowd has closed its second deal in two days raising a total of £3.2 million. According to information provided by ShareIn, Downing has added four bonds to the platform, each raising capital for established UK firms including an onshore wind farm, a solar farm, an anaerobic digestion plant and a “selection of country pubs.” Downing is an established, FCA-authorised investment manager with over 90 staff and more than £700 million of assets under management.
The pivot to a white label provider of crowdfunding platforms has been a significant strategic shift for ShareIn. The company appears to be generating some traction;
“Our technology being used for bonds marks a significant addition to our product offering and we’re utterly thrilled by what Downing Crowd have been able to achieve,” stated Jude Cook, ShareIn co-founder and CEO.
Andrew Pickett, co-founder and CTO of ShareIn, added they are not just about equity crowdfunding anymore and they are expanding their range of products and services;
“We have many new projects on the horizon including three new property crowdfunding platforms and a community share platform to enable Fan ownership. It’s really exciting times for ShareIn,“ said Pickett
The ShareIn team pointed to the success of crowdfunded bond offerings coinciding with the FCA review, and call for input, regarding the regulatory environment for crowdfunding.
“ShareIn has always been a strong advocate for financial regulation and ensuring that risks and potential returns are presented clearly. We take our responsibilities very seriously and feel that appropriate regulation is key in this industry,” added Cook.
ShareIn is a founding members of the UK Crowdfunding Association and is located in Edinburgh at Codebase, said to be the UK’s largest technology incubator.
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