Back
28/01/2021
Sneakypeer Newsletter Week 4
Welcome back to the Sneakypeer newsletter! Below you will find industry highlights from last week.
British Pearl about to complete its portfolio
British Pearl, a property investment platform based in the UK, listed its portfolio for sale on the open market in April of 2020, as a part of its investment exit strategy. A credible buyer has recently expressed interest in buying the entire portfolio, therefore the platform has closed its secondary market, as well as has let interest and dividend payments accrue.
According to British Pearl, loan investors will be reimbursed their principal investment and accrued interest when the sale is concluded in February. The circumstances are, however, different for investors with equity in the properties- they will most likely not get their original investment capital back. According to the founder of British Pearl, Ali Celiker, the platform will not be shutting down, despite the recent events.
Funding Xchange and Enterprise Nation creates a joint finance hub
The fintech platform Funding Xchange has launched a new business finance hub alongside Enterprise Nation, a membership organization for entrepreneurs and business advisers. The idea behind the newly founded finance hub is to provide business support for start-ups and small companies, including access to a variety of resources and funding solutions. A new financial e-learning tool is also expected to be launched during the first months of 2021, as a way of further helping businesses tackle challenges.
October reaches record high numbers in December
October, a peer-to-peer platform based in France, has reported that December was its most active month up to date, despite the ongoing pandemic. Apart from lending a whopping 24 million euros to 70 businesses, the platform showed great overall resilience to challenges inflicted by Covid-19, by supporting 395 small and medium-sized enterprises in 2020. October also introduced a variety of other projects in 2020, such as October Connect, a neolending technology for banks, that way successfully functioning in times of uncertainty.
Twino and LendSecured on the path to regulation
Twino, a peer-to-peer platform based in Latvia, applied to the Financial and Capital Market Commission (FCMC) in early 2020, intending to become an investment brokerage company. Achieving the investment brokerage license would permit the platform to launch new products, as well as make the investors eligible for the FCMC investor protection mechanism.
The platform continues to progress on its way to attain its investment brokerage license - it has recently increased its share capital to one million euros, as well as reorganized its company board. Achieving the license has been highlighted as one of the head priorities of 2021, therefore investors are guaranteed to stay informed throughout the following year, as the platform progresses with the regulation.
Just like Twino, LendSecured is also taking massive steps towards licensing. The platform recently announced that it has increased its paid capital to 100,000 euros, as well as adjusted changes to the platform in the hopes of becoming the first to receive the ECSP license in Latvia in November of 2021 when the crowdfunding regulation becomes applicable.
