BTL crowdfunding platform InRento gains pan-EU licence
InRento, the buy-to-let crowdfunding platform, has been given permission to operate across the EU by the Bank of Lithuania.
The European Crowdfunding Service Provider Regulation (ECSPR) was introduced in November 2021 to harmonise peer-to-peer lending and crowdfunding across the bloc.
All nationally licensed crowdfunding and P2P lending platforms in the EU had to attain an ECSPR licence by 10 November.
“The key difference between this licence and the previous one is that from now on InRento will be able to reach the entire EU market and we will be able to actively attract investors from all over the EU,” said Gustas Germanavičius, founder and chief executive of InRento.
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“Accordingly, the new licence changes the procedures for calculating credit assessment scores, the suitability of a transaction for an investor and the pricing and rates of interest.
“Another key change is the possibility for investors to cancel an investment within four days from the date of the transaction, but we remind you that this functionality has already been in place on the InRento platform for some time.”
InRento joins authorised platforms including Ireland’s Property Bridges, HeavyFinance in Lithuania and Crowdcube Europe.
In October, InRento said it planned to add more investment opportunities from Poland and Spain by the end of the year, following a “solid” third quarter performance.