INCOME, an Estonian loan investment marketplace focusing on investor safety, is targeting to raise €400,000 on the SeedBlink crowdfunding platform. The INCOME equity crowdfunding campaign starts on September 28th.
In 2021, INCOME was launched with the idea of making investments in loans simple and safe. INCOME improves loan investment safety by implementing institutional level security features that have not yet been available to retail investors, as well as through rigorous due diligence processes, technological innovation, and localized security structures.
In February this year, the company launched its investment platform, enabling investors to invest in loans originated by select loan companies globally. This was followed shortly by the launch of its mobile application for both Android and iOS. The mobile app allows for easy access to the loans listed on the platform and simplifies the user experience significantly.
INCOME plans to raise a total of 1.3 million EUR in a seed funding round, combining traditional startup investors and crowdfunding in the round. SeedBlink accounts for 400.000 EUR of the total round, following the investment from the lead investor, Tolaram Fintech, which is part of Tolaram Group. Tolaram is a Singapore-based enterprise with investments in consumer products, fintech, and infrastructure and over USD 1.2 billion in annual revenues. The round is planned to be joined by other investors also.
The money raised will be invested to accelerate growth.
INCOME will use the proceeds to make key hires, continue product development of its retail investor mobile app and user experience, and further develop its institutional investor onboarding capabilities. INCOME is seeking to add more loan companies to list their loans onto the INCOME platform, launch a secondary market functionality, and onboard institutional investors.
INCOME has already raised 1 million EUR in its pre-seed funding round, mainly from angel investors. Since its launch, the company has found early traction and is in revenue. It has around 600 registered users and is currently growing 10% week on week.
"We believe our focus on safety and the simplification of the overall investment experience are key to moving loans more into the mainstream as the leading alternative asset class. There is no other investment platform on the market that does what we do and it's super exciting for us to see our product in the reach of all investors. Doing an equity crowdfunding campaign allows us to raise awareness and involve investors to participate in our journey to build a world-class business and change investing in loans for good. We chose Seedblink as an up-and-coming platform due to their tech focus and because we know how important it is to support new platforms. INCOME is a forward-looking, industry-defining technology company that aims to reach exponential growth”, states Kimmo Rytkönen, CEO and Co-Founder of INCOME.
"INCOME is an investment platform similar to SeedBlink but focused on very different transactions: investing in loans. The Estonian team has created the third generation of platforms that reduce investor risk through novel security features. Proven traction in less than 6 months highlights the market's need for such an investment portfolio diversification tool, and the founders' background in fintech and lending ensures the premises of a state-of-the-art product”, states Ionut Patrahau, Managing Partner SeedBlink.