SaveLend Group has received a license to operate as an investment crowdfunding provider following the approval of the Swedish Financial Supervisory Authority
SBL Finans AB (publ), a subsidiary of SaveLend Group AB, will now be able to passport its services throughout Europe.
In 2021, the European Union approved new rules for online capital formation under European Crowdfunding Services Provider Regulation or ECSPR. The rules allow platforms to raise capital online from all EU member states. A platform must first be approved by the relevant authority in its home market.
Savelend notes that this is an important milestone in the company’s expansion and goal of providing services across Europe.
“This is an important piece of the puzzle in our expansion, which we have only just begun. It is a solid process that forms the basis of a license application like this. With this, we can complete our plan to offer investors a wider investment palette,” commented Ludwig Pettersson, CEO of SaveLend.
SaveLend currently employs around 75 individuals with offices in Sweden, Finland, and Poland. The platform makes it possible for savers to get yield via a peer-to-peer lending process providing credit to SMEs, real estate projects, consumer lending, and factoring in both SEK and EUR.
Currently, there are 18 other platforms approved under ESCPR.