The Dutch Financial Markets Authority may have granted a license as a provider of crowdfunding services. This means that the fintech can facilitate lending in its Entrepreneurial Mortgage and propose prices and interest rates for crowdfunding offers.
Good news for aspiring entrepreneurs and investors. Anyone doing business with an ECSP-licensed platform can be assured that the platform meets all requirements regarding IT security, privacy, investor protection and information provision.
“We’ve been working hard in the last few months,” explains Possible director Folkert Eggink. “You don’t just get this permission and that’s more than right. It’s great that we can now make it official.”
Eggink pointed out that the company has done a lot of things according to the guidelines. “But tightening processes within our organization has ensured that we as a platform have made great progress again.”
Therefore, the permit primarily relates to one-on-one financing facilitated by Possible. In what is called an Entrepreneurial Mortgage, an investor invests in an entrepreneur’s business mortgage.
Investors receive first mortgage rights, in addition to an appropriate interest rate. In other words: if the entrepreneur can no longer fulfill his financial obligations, the investor will be reimbursed in the event of possible property confiscation. Overall, Possible has raised nearly €1.5 billion in the financing.
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