The first quarter of 2017 was a record-breaking one for the FCA-regulated platform as the number of businesses funded through Crowd2Fund increased by 3,900%, compared with Q1 2016.
Crowd2Fund reported the growth while maintaining a record of zero defaults and has experienced 50% month-on-month growth as it expects to soon be deploying over £10m per month.
The platform has been boosted by the launch of its Innovative Finance Isa (IFIsa), which has seen an accelerated uptake.
This is expected to continue after the allowance was increased from £15,240 to £20,000.
Crowd2Fund reported that 95% of investments are now made into the IFIsa.
- Crowd2Fund launches IF Isa app
- First Innovative Finance Isa launches
- Four P2P platforms select Goji to build IFIsa service
The platform, headed by Chris Hancock, CEO (pictured above), claimed to be the first company to launch the IFIsa last year.
Crowd2Fund has seen registered users on the platform increase by 236%, with 75% of these being investors and the other 25% being business users.
“Of the total number of investors on the platform, 68% in Q1 are actively investing, compared to 15% in 2016,” explained Crowd2Fund.
“This demonstrates that the demand for debt crowdfunding and the IFIsa is no longer latent, with users deploying funds soon after registration as opposed for just signing up out curiosity.”
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