Crowdlending is becoming more popular in Spain
The popularity of crowdlending in Spain is a sign that the days of the banking monopoly are numbered, according to Emiliana Olmeda, co-founder of Colectual.
In an interview with Plaza Financiera magazine, Olmeda said that the four largest banks in Spain represent more than 85 per cent of business financing, but that crowdlending is a viable alternative for professional and individual investors.
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Olmeda said that peer-to-peer lending platform Colectual saw an alternative opportunity where individual and professional investors could directly finance company projects. This is what led her to co-found Colectual in 2015.
The company became the fifth participatory financing platform in Spain, and received authorization from the country’s national securities market commission (CNMV) in 2016.
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“We knew that in the world of credit trying to run and go too fast is synonymous with suicide,” Olmeda said.
“Some companies that started before us did not act like this and had to disappear. We cannot grow faster than we are able to safely finance for the investor.”
For this year, Olmeda said: “We want to be the first crowdfunding platform in Spain regulated by the CNMV, dedicated to financing companies, which achieves profitability in its operation.”
The business is also looking to launch the Colectual Academy, an initiative to disseminate concepts from the world of investment in an entertaining and instructive way among people who are interested in learning terms and concepts of personal finance.
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