Social-lending: Development of a new tool for funding SME and other companies
| Reference number | |
| Coordinator | FundedByMe Crowdfunding Sweden Aktiebolag - FundedByMe |
| Funding from Vinnova | SEK 1 500 000 |
| Project duration | November 2014 - August 2015 |
| Status | Completed |
Purpose and goal
The goal of improving company communication and to develop and launch a new tool, called ´loan based´ crowdfunding, for funding SME and other companies was successfully achieved. By offering a broader product range we make sure that the clients, both investors and entrepreneurs, can broaden the methods in how to raise funds.
Expected results and effects
By developing, coding and introducing crowd-lending to the Swedish market FundedByMe can now offer customers crowdfunding via two models: the so-called equity crowdfunding and loan based crowdfunding. We have already begun to see the positive effects which investment in social-lending has meant that we have begun to attract more mature companies, more investors, and that we can now turn our customers´ financing rounds faster and more efficient.
Planned approach and implementation
In order to offer customers a broader product range, we have planned, chart, developed and launched the so-called crowd lending to the Swedish market. The project was conducted by a top team led by Michal Gromek, formerly of Lendico / Rocket Internet.