Socilen is a Crowdlending Platform that connects enterprises with investors. It was established in 2014 and was one of the first to obtain the license to operate by the CNMV (Spanish FCA) and the Bank of Spain in 2016. It now has over 17,000 registered users with 83M euros in loan applications.
Socilen is a Crowdlending Platform that connects enterprises with investors. It is aimed at offering companies an alternative source of financing and providing investors with greater returns on their savings.
Socilen was established in 2014 and was one of the first to obtain the license to operate by the CNMV and the Bank of Spain in 2016. Founding partners contributed more than 200,000 euros to the project.
In 2017, 350,000 euros was raised for 14% of the company. This capital was invested mainly in driving customers acquisition, where we have achieved a turnover growth of over 250% and -€188k EBITDA in the last year and an increase of more than 300% in the number of registered users in the last 12 months. In September 2018, the number of registered users reached 17,000.
The purpose of this financing round is to raise funding to improve the platform technology, invest in marketing, and initiate the platform internationalisation. Socilen's accounts are audited annually, which guarantees greater transparency.
Socilen intends to initiate preparations for an IPO after the completion of the current capital raise to provide its partners with liquidity. We believe this process could take 24 months once it is initiated.