What a year for Crowdcube Spain! According to the Crowdcube Spain blog, crowdfunding alum Zank has reached an agreement with the personal finance management platform Fintonic, which will become a shareholder in the business. The exit provides more than just good news for Zank’s 252 Crowdcube investors, who will receive an undisclosed positive return on their investment. Although the agreement terms are confidential, the deal, which is one of the first corporate acquisitions among fintech companies in Spain, will enable Zank to accelerate its growth as a consumer lending marketplace.
“Exciting times for Crowdcube. We completed 23 European transactions in 2017 and recently announced our first exit since we launched in Spain. The cross-border investment appetite is increasing and we’re building a marketplace to satisfy this demand,” Crowdcube Spain Managing Director and Co-Founder Pepe Borrell shared with Crowdfund Insider via email. “I’m thrilled to help hundreds of investors to get positive returns through early-stage investments. A decade ago these opportunities were only available for a few lucky people.”Exciting times for @CrowdcubeES! Completed 23 European transactions in 2017 & announced its first exit since launching in Spain...Click To Tweet
Zank, a P2P lending platform founded by Leonardo Ramírez, Luis Reig and Oriol Chimenos in November 2013, aim to connect people looking for loans at a fair interest with people who want to gain profitability for their savings. In 2014, Zank participated in the Plug and Play acceleration program and made its first capital raise with private investors. In 2015, the platform carried out a second capital raise – its first through Crowdcube – and raised €235,000 from 69 investors who acquired a 16% stake in the company. In 2017, Zank returned to Crowdcube for its third and final capital raise with private investors raising €490,000 from 183 investors in exchange for 8% of the company’s equity.'Cross-border investment appetite is increasing and we're building a marketplace to satisfy this demand,' commented @CrowdcubeES Spain MD and Co-Founder Pepe Borrell.Click To Tweet
Since its launch, Zank said that it had intermediated over 8 million euros and registered 250% growth in 2017. Fintonic investment into the company marks a milestone in its history not only for Zank, but also for Crowdcube Spain investors.
Zank’s Crowdcube investor’s profile:
- 252 investors in two capital raises through Crowdcube
- Investors from the first raise followed on and committed 15% of the second raise
- The largest investment was €50,000
- The average investment was €2,879
- 172 of the 252 investors have invested in other companies in Crowdcube
- The average portfolio is 7 companies
- The largest portfolio is 103 companies
Current live offerings on Barcelona-based Crowdcube Spain include Pyckio, a world-class sports betting marketplace. With 25,000 users and 145,000 visits per month, the platform reached break-even in 2016.
“We’re delighted to see that more than one hundred expert tipsters and Crowdcube investors are betting on Pyckio’s raise,” Crowdcube Spain Operations and Finance Director Oriol Cordón told Crowdfund Insider via email.
At this writing the betting marketplace has secured over 338,660€ toward its 350,330€ goal from more than 112 investors for 13.35% equity. The largest investment to date has been 30,210€. Three days remain on the campaign.'We're delighted to see that more than one hundred expert tipsters and Crowdcube investors are betting on the @Pyckio raise,' said @CrowdcubeES COO and Co-Founder Oriol Cordón.Click To Tweet
Two new Spanish companies are also crowdfunding on the platform, including Nanusens and Liquid Labels. Another campaign, Easygoband, has secured 95% of its £300K target with over three weeks remaining on its campaign. Lastly, Wave and Vita are overfunding at 133% and 190% respectively.