The end of the year is approaching and with that, we take a brief look back at the year and see if we reached our previous set targets for Max Crowdfund. This was the first year the Max Crowdfund platform has been running at full speed and what a year it was. We have grown tremendously as a small company. We are offering loans in different countries such as Germany, England, Belgium and the Netherlands. As a result, in the Netherlands, we are also well on track to reach the target amount of €10M in total loans raised this year. The predictions are that we will even exceed this target.
The platform is of course not only focused on the Dutch market, we also want to operate internationally. As you may have already read on our website, we are working hard to expand our platform to England and New Zealand. We are already in the starting blocks to pick up and kick off everything in these countries. Unfortunately, we have to wait for the local authorities. Due to Covid-19, many procedures have unfortunately been delayed by the authorities. This means that the permits for England and New Zealand have been delayed, but have been submitted by us. In New Zealand, we are eager to get started. Our Exclusive Service Provider Kirk Pullar already has several interesting projects lined up. Because of these delays, we have to postpone our previously set target of €18M by about half a year.
The European License
We are also working hard on the application for the European license, which will allow us to operate throughout Europe. Unfortunately, it takes longer to obtain this permit, as ESMA has not yet finalized the RTS (Regulatory Technical Standards). This means that the AFM cannot yet interpret them and approve the application. The prospect was initially that we would receive the license in the first quarter of 2022. This has been postponed and is only expected in the third quarter of 2022. So unfortunately this too is pushed back by half a year. We will submit the application as soon as possible so that we are one of the first parties to report to the AFM. With this, we hope to get the permit soon, but due to the lack of clarity about the European application process, we expect that we will also experience a delay through no fault of our own.
At this moment we are already busy attracting partners in various European countries. This is so that we can eventually offer projects in all these countries and attract new investors.
Despite everything, we are looking positively to the future. This is mainly because we see a lot of traction for our products and with project providers. As a result, we expect to achieve the targets for Max Crowdfund in the end, even though they are somewhat pushed back. After all, they are still forecasts, but we are working hard to meet them, of course!
Written by: Julia van der Kooij