The end of June saw the preliminary close of our equity round. We were absolutely overwhelmed by the amount of your applications and we could not be more pleased. In the end, we raised €2.75 million from over 800 investors! Thank you all for participating.
One of the reasons why we temporarily stopped the equity round, was because we wanted to process all the applications received, as we did not want to disappoint anyone.
The summer was also approaching and we did not want to bother anyone during the well-deserved breaks of July and August.
Now that we have processed all the applications and the summer is behind us, we would like to offer all of you that missed the opportunity to participate (we have received many calls about this) the chance to participate in our equity round.
There is only €1.5M left and we have increased the minimum ticket size to €5,000. If you are interested be on time because there are only 300 tickets. More information about the equity round can be found here.
We have not been idle in the meantime and below you can read what we have done with the money raised so far.
The preparations for the EU license has started. The regulation will allow the platform to provide the services Pan-Europe. This means that not only will we be able to acquire funding from a bigger pool of investors, but we will also be able to diversify the range of investment opportunities.
We opened a new bank account at Intergiro, as they are more crowdfund-friendly. They offer banking-as-a-service (BAAS) and also the possibilities for a multi-currency bank account. This means that in the near future, we can provide a platform that enables us to accept different currencies. A great upgrade of our platform!
Due to the fact that Mark Lloyd will concentrate more on the Max Crowdfund UK platform, we have started discussions with a new CEO. To fully prepare for the IPO or sale, discussions have also started regarding the potential hiring of a CFO.
Besides a new CEO and a possible CFO, we have hired an in-house lawyer who will assist us with the EU license application. The lawyer will also help us with the legal preparation to go live in all EU countries because a network of lawyers has to be set up to register the mortgages and to make sure everything goes according to local law.
In the past month, we have successfully completed 11 loans, in different countries such as England and the Netherlands. The loans had an average return of 10% and were filled within an hour on average. We raised an amount of almost €1.5 million in September.
In the past month, we did several tests on the platform such as posting loans during the weekends, at different times, but also automating the placement of the loans. In addition to this, we added a countdown clock that allows users to see when a loan will go live. For the record, not everything went smoothly. You probably noticed that there were some issues, but we are still continuously fine-tuning our platform.
Our goal to raise a total of €10 million at the end of 2021 is still achievable.
We have a new update about our funds. Soon the fund holders of Fund I will be paid out. The fundholders have already received a payment, but now the final settlement including the remaining profit follows.
The same applies to Fund II, everything has now been handed in and the figures will probably be received at the end of this week. This is a complete settlement with the fund holders.
We have had some interesting guests at our podcast. Our podcast host sat down with a self-made project developer and with our Max Crowdfund’s Exclusive Service Provider in Sweden.
Listen to the ‘Max Property Podcast‘ episodes from the past month.
Written by: Julia van der Kooij