$LendSecured Q1 review:
- On March 1st we launched new product - Seasonal funding for farmers (grain financing).
- Opening of Secondary market
- Anchor investor is our long-term private investor, who has agreed to finance the projects, if other investors have not managed to do it until the end of the funding period. He is just like any other investor, who has registered on the platform, except, that he guarantees his participation in project funding, to reach 100%.
- ECSP licence: We keep working to adapt the platform to the provisions of the new crowdfunding regulation and cooperate with the supervisory authority (FCMC) to receive the ECSP license in November 2021. There are several steps which need to be done, for example investors’ funds must be held on segregate account (our investors’ funds are held in BNP Paribas bank operated by LemonWay).
- At the end of January 2021 we increased the paid-up capital to EUR 100 000. It was done to rise the financial stability of the company.