Crowdstacker, a UK-based peer-to-peer lending platform, is now seeking £800,000 through its equity crowdfunding campaign on Seedrs. Founded in 2014, Crowdstacker describes itself as an award-winning FCA regulated online alternative investment platform that provides ISA eligible P2P loans, bonds, and loan notes. According to the lender:
“We carefully select great British businesses that are looking to raise money to grow or undertake projects. Traditionally businesses borrowed from banks, now through Crowdstacker we enable you to lend directly to businesses, cutting out the banks. You get more on your money and the businesses borrow at better rates; a win win for all.”
Crowdstacker also revealed that it is among the earliest P2P platforms to gain full permission from the FCA, and one of the first to launch an Innovative Finance ISA in April 2016. Last year, the lending platform claimed it became a record breaker when it completed the UK’s largest crowdfunded P2P loan to date, funding over £15 million. Crowdstacker also joined the Peer-to-Peer Finance Association (P2PFA) earlier this year. As previously reported, P2PFA revealed that Crowdstacker concentrates on a select few established businesses looking to secure over £1 million, appealing to businesses seeking to diversify their existing funding strategies. Robert Pettigrew, Director of the P2PFA, stated at the time:
“As one of the first peer-to-peer lending platforms to receive FCA authorisation and launch the Innovative Finance ISA, Crowdstacker has much to contribute to the P2PFA. Across the diversity of business models within the peer-to-peer lending sector, there is a clear appetite for platforms to demonstrate their commitment to the high standards of business practice and principles which membership of the P2PFA requires.”
Funds from the Seedrs round will be used to continue Crowdstacker’s growth and expansion. Since its launch, the campaign has raised more than £500,000. It is set to close later this summer.
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