Swedish Crowdfunding Platform FundedByMe Launches P2P Lending

Adding alternatives for investors using its platform, Swedish FundedByMe has announced the addition of peer to peer (P2P) lending along with its existing equity crowdfunding offering. The launch of P2P lending comes as the sector was one of the hottest areas of Fintech Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Read this Term in 2014, highlighted by the IPO of Lending Club and its current $8.2 billion market capitalization. For a comparison, according to data reported by the FCA, UK P2P lending grew 170% to £1.3 billion, while equity Crowdfunding Crowdfunding Crowdfunding is defined as funding of a project via raising smaller denominations of money across a large body of number of people.New businesses that need access to more capital may also conduct crowdfunding. Generally, crowdfunding is performed through an online community, social media, or crowdfunding websites such as Kickstarter, GoFundMe, and RocketHub. Depending upon which jurisdiction an investor resides within will dictate the sort of restrictions that are applied to the crowdfunding pro Crowdfunding is defined as funding of a project via raising smaller denominations of money across a large body of number of people.New businesses that need access to more capital may also conduct crowdfunding. Generally, crowdfunding is performed through an online community, social media, or crowdfunding websites such as Kickstarter, GoFundMe, and RocketHub. Depending upon which jurisdiction an investor resides within will dictate the sort of restrictions that are applied to the crowdfunding pro Read this Term rose 200% to £84 million.

From providing microloans, P2P lending using non-bank platforms has grown into an efficient alternative to banks for both borrowers and investors. As a result, P2P lending platforms have been able to attract institutional investors of which the supply of funds offers decreased low terms for borrowers.

In regards to FundedByMe, the company crowdfunded €315,000 for itself on its platform last year. According to data from Life.SREDA's annual fintech report for 2014, since its launch, €6.6 million has been raised on the FundedByMe overcrowding platform. In launching P2P lending, the firm's 40,000 registered investors will be able to lend to Swedish businesses, with interest rates up to 13.33%. Investors can loan from between €50 up to €20,000 on the platform.