Symbid and ILFA join forces to take crowdfunding to a more professional level

Symbid and ILFA join forces to take crowdfunding to a more professional level

Crowdfunding platform Symbid increased its obligation to guarantee a good service level for investors by adhering to the MiFID regulations.

As of today, Symbid shall operate with an AFM licence, as it has entered a partnership with funding specialist Ilfa. This is regarded as a big step towards the professionalisation of the crowdfunding organization and processes, since the requirements concerning crowdfunding quality will keep growing. Ilfa is an experienced funding specialist with over 20 years of experience in complex funding cases for businesses, and has an official AFM licence for an investment firm since 2013. As a result, Ilfa and Symbid are now both under the supervision of the Dutch Authority for the Financial Markets (AFM) and the Dutch independent central bank (DNB) and have to comply to strict regulations. By combining the crowdfunding knowledge of Symbid with the broad array of funding-related knowledge and experience of Ilfa, the processes and content related to Symbid’s offered services will be expanded.

As business angels are investing through crowdfunding on an increasing basis, the need for more regulation is growing as well. This is where the new partnership proves its worth, as it leads to a more professional offering on behalf of Symbid. The next step in the process is planned to take place early 2018, when Ilfa and Symbid will make the transition to an even more regulated supervisory framework called MiFID II. Symbid distinguishes itself from the other Dutch crowdfunding platforms which aren’t required to comply to the same heavy regulations. Both Ilfa as Symbid believe this step will benefit both investors and entrepreneurs, as the companies value investment quality over quantity and speed.

To assure that investors will have access to complete information regarding the offered investment opportunities, Symbid will offer Key Investor Information Documents for new crowdfunding campaigns.

Symbid started in 2011, as one of the first equity crowdfunding platforms in the world, on a mission to empower entrepreneurship by providing everyone who dares to be different with access to the required funding. Symbid offers equity crowdfunding, as they believe this is the most suitable type of funding for startups and young, fast growing companies.

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