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BUSINESS AGENT'S press release Tuesday 4th June 2019 Financial Conduct Authority Loan-based (‘peer-to-peer’) and investment-based crowdfund

Posted 1 years ago

BUSINESS AGENT'S press release Tuesday 4th June 2019  Financial Conduct Authority Loan-based (‘peer-to-peer’) and investment-based crowdfund
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 Business Agent & Crowdrating aggregate, compare and rate Equity crowdfunding & P2P investments.


Advertised Equity Crowdfunding Pitch

Biohm is an eco-conscious bio-technology company that is revolutionising construction through nature-inspired innovation. The company has adopted methods such as circular construction system, biomimicry, and triagomy. Some of the company’s carbon-negative bio-based materials include building insulation made out of Mycelium (the root structure of mushrooms) and ORB (Organic Refuse Biocompound), a 100% natural sheet material made out of food and agricultural surplus. For its innovation, Biohm won the Waitrose and Partners Plan Plastic Prize: The Million Pound Challenge and a Power to Change grant worth £600,000 to build sustainable living premises. It has also been shortlisted as one of The United Nation’s ‘Young Champions of the Earth’. The company will use 38% of the investment to grow its team, 22% to scale Research and Development (R&D), 22% to protect its Intellectual Property (IP), and 18% for product accreditation.

Pitch Rated

83%

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pledged: 89% days to go: 9 investment: £668,673

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Comment from Sacha Bright, founder and Chief Executive of Nextfin.uk

 

It has long been anticipated, but today the FCA released new rules for the peer-to-peer (P2P) sector & investment-based platforms. At NextFin.uk we have been calling for greater transparency from P2P & Equity crowdfunding platforms for many years and for many years we have been disappointed by the inadequate response of the Platforms. Investors need meaningful data to make informed decisions and it really shouldn’t be as difficult as it is to compare essential information like charging and default rates across platforms.

 

The new regulations prompt on governance shows that the FCA clearly agrees. The regulations state that individual investors must have access to key information and comparisons between platforms and investments. What is missing is a ruling that this information should be publicly available. In light of Platform providers sluggish moves towards transparency to date and their use of confidentiality clauses for data that prevents comparison, we wonder if this oversight might provide wiggle room for Platforms that gets in the way of the regulators goal of improving transparency for investors? I can only hope not.

 

Quote

“The FCA have agreed that there is a need to have data available for comparison but haven’t made it clear that it should be publicly available on a regular basis. Without this it is difficult for investors and advisors to make real time informed decisions”

Sacha Bright CEO of NEXTFIN.co.uk the alternative finance market

 

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