Biz Builder Mike

You can't sail Today's boat on Yesterdays wind - Michael Noel

Real Estate Source Platform Infabode Makes Another Return to Seedrs; Now Seeking to Raise £300,000 in Funding.

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Less then a year and a half after raising £120,568 through its previous equity crowdfunding campaign on Seedrs, real estate source platform, Infabode, has made a return to the funding platform to raise an additional £300,000.

As previously reported, Infabode connects its community of users with industry information from the real estate sector on one customizable online platform. Infabode’s platform more than 40,000 users, 900 content providers, and hundreds of thousands of pages of insights on global real estate markets.

“Infabode aims to reduce the amount of time people spend trying to access key information from the Real Estate industry and allows its community of members to customise the content that they have access to. Companies provide their industry information and data to Infabode in exchange for the increased marketing reach. The platform boasts over 400 industry partners and thousands of pages of industry data.”

Infabode stated its business plan over the past five years is the following:

  • Phase One: Get all the best content in the industry on one platform.
  • Phase Two: Get the industry using its platform to access this information.
  • Phase Three: Monetization.

Infabode then noted:

“For our users it enables them to analyse everything happening in their sectors and for our content providers it increases the reach of their insights and brand.”

Funds from the Seedrs campaign will be used to continue the growth and development of the Infabode platform. The company is offering 20% discount through the funding round, which is set to close mid-October.

Have a crowdfunding offering you’d like to share? Submit an offering for consideration using our Submit a Tip form and we may share it on our site!

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UK based P2P Lender RateSetter Wins Award for “Best Loan Provider,” After it Struggled to Maintain Operations and was Acquired by Metro Bank

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blankRateSetter, a leading UK based peer to peer (P2P) lender that was recently acquired by Metro Bank, has confirmed that it won the award for “Best Loan Provider” for loans of £2,500 or more at the Consumer Credit Awards for 2020.

The Consumer Credit Awards “help to put customers at the heart of the industry and to find the best credit providers in the UK.” More than 27,000 customers voted last year. As noted by the Consumer Credit Awards team, their awards are “decided by customers, not ‘industry experts’.”

RateSetter stated that it was also shortlisted in several other categories, including Best Car Finance Provider, Treating Customers Fairly, Innovation of the Year and Firm of the Year.

As explained by the RateSetter team:

“The awards are run by financial services review platform Smart Money People and identify the financial services industry’s best credit products and providers.  Importantly, the awards are based on direct feedback and votes from more than 19,000 customers.”

Rhydian Lewis, founder and CEO at RateSetter, noted (earlier this year):

“P2P lenders have historically focused on both new customers and existing customers, as they have been growing their businesses.”

He had also mentioned in June 2020:

“The pandemic is the P2P lending industry’s first major crisis and the focus is entirely on existing customers, so you actually improve their experience and learn something.”

As covered in early August 2020, Metro Bank had agreed to acquire RateSetter for initial consideration of £2.5 million, with additional consideration of up to £0.5 million payable 12 months after completion subject to certain criteria and further consideration of up to £9 million payable on the third anniversary of the completion of the transaction. The transaction must receive the blessing of the UK Financial Conduct Authority.

Over the years, RateSetter has experienced several setbacks regarding loan losses. Most recently, COVID-19 has challenged the online lending platform – just like it has impacted all businesses and Fintechs.

In May 2020, RateSetter announced that investors would receive only 50% of their interest with the other 50% going to the Provision Fund as a concerned rose regarding defaults.

Overall, the P2P lending industry continues to iterate and evolve. Earlier this year, 36H Group was launched as a replacement association to the UK Peer to Peer Finance Association (P2PFA) – once a top advocate for the P2P sector. 36H is described as a “united voice for lending platforms that accept retail investments.” P2P lending was said to be “one of the fastest-growing areas in the UK’s Fintech ecosystem.” RateSetter was a founding member of the group.

Updated rules have, in certain respects, made it more difficult for the industry to compete. One competitor, Zopa, has decided to become a digital bank and thus provide a broader portfolio of financial services – an emerging popular path for established online lenders.

RateSetter said that Metro Bank’s goal is to be the UK’s best community bank and RateSetter is proud to be part of this mission.

In August 2020, RateSetter rebranded its Australian P2P lending platform to Plenti. Head of Marketing at Plenti, Sebastian Paulin, shared more details about the rebranding, by stating:

“As Plenti, we want to help our customers make the most of their money. We believe that what you do today can transform your tomorrow. That’s why we’ve built a new world of lending and investing that makes the experience faster and simpler for all. Powered by technology so smart you can’t even see it.”

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Call For Submissions: Indiegogo Fellowship Program

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The Indiegogo Fellowship Program provides small entrepreneurs and creators from marginalized and underrepresented communities in the tech and innovation community  (i.e. women, BIPOC, LGBTQIA+ entrepreneurs, etc.), who have limited resources and support, with a 5-week educational program to guide them in running a successful crowdfunding campaign from end to end.

With a series of guided, exclusive coursework — program participants will get mentorship from established crowdfunding professionals, additional office hours with a core member of the Indiegogo team, and be able to connect with a vibrant business community.

Only 4-6 campaigners will handpicked for this program. 

Apply here!

Application deadline: 9/23

Learn

  • Pre-launch emails + ad strategy
  • Social media strategy
  • Branding and positioning your Indiegogo campaign page
  • Perk and campaign strategy
  • Post-launch strategy
  • Get a shipping and fulfillment consultation

Connect

Indiegogo will provide a virtual environment where participants can access and share resources with each other, get feedback from peers in the program and industry professionals, connect with a new community network, and more.

Evaluation Criteria:

  • Applicant must be at least 18 years old 
  • Applicants must be available between these dates to take part in the program: October 12 to November 20, 2020

Project/Campaign Criteria:

  • Project must be consistent with Indiegogo’s Terms of Service, mission, and values
  • Project must launch on Indiegogo after the program

Application Criteria:

  • Application must clearly articulate why they would be a good fit for this program and how they would benefit from a program like this 
  • Application must demonstrate a clear business plan with goal to launch a crowdfunding campaign, including articulating the product, its current product stage, and provide supporting materials, i.e. pitch deck, photos, and videos
  • Application must answer all questions on the application form

Review Process:

The Indiegogo team will evaluate applications at its sole discretion. The team to decide is comprised of sales, strategy, and marketing team members, and qualified crowdfunding partners. Participants will be contacted via emails, and announced on the Indiegogo blog and social media.

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