Property Bridges has secured authorisation from the Central Financial institution of Eire to function as a crowdfunding service supplier throughout the EU.
The European Crowdfunding Service Supplier Regulation (ECSPR) was launched in November 2021 to harmonise peer-to-peer lending and crowdfunding throughout the bloc.
The Irish P2P lending platform mentioned that receiving the pan-EU licence marked “a big milestone” for the enterprise.
“This implies we will now seamlessly join traders from the 27 EU international locations with Irish homebuilders unlocking a model new supply of non-bank finance,” Property Bridges mentioned.
Learn extra: Eurocrowd launches authorized report on roll-out of EU crowdfunding guidelines
“We hope this can be a pivotal second within the crowdfunding business that can enable platforms like Property Bridges to increase our providers all throughout Europe.”
The European Securities and Market Authority (ESMA) has now authorised 73 crowdfunding platforms, in keeping with Property Bridges, 20 of which deal with property lending.
Learn extra: European P2P sector forecast to change into extra aggressive
All nationally licensed crowdfunding and P2P lending platforms within the EU needed to attain an ECSPR licence by at this time.
Authorised platforms embrace Sweden’s SaveLend, Lendahand within the Netherlands, HeavyFinance in Lithuania and Crowdcube Europe – the Spanish subsidiary of UK-based Crowdcube.
Earlier this 12 months, Tara Cantwell, authorized and compliance supervisor at Lendermarket, mentioned she considers the ECSPR to be “extra strong” than UK equal laws resulting from their further necessities round borrower due diligence.
