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8/6/2019 8 Call for Common Standards Developments in the Crowd Funding Sector
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XBRL EuropeTrack : Interactive data sharing
Call for Common standards in the Crowdfunding SectorJouko Ahvenainen, Director at Grow VC companyLionel Slusny, Director at Loft Solutions France
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Agenda
1. Context - The Open funding market & players
2. The need for data sharing & standards
3. Current & future initiatives
4. Case study : GrowVC - Data sharing interface
Duration : 1 hour
Speakers
Jouko Ahvenainen, Director at Grow VC companyL ionel Slusny, Director at L oft Solutions France
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` N ew financial market for funding individualsand companies through online platforms
` In Europe, market growth of > +80 % p.a.
` A crowdfunding definitionCrowd funding describes the collectivecooperation, attention and trust by peoplewho network and pool their money and other resources together, usually via theInternet, to support efforts initiated by other people or organizations
C rowdfunding
C rowdfunding
Peer-to-peer lending
Peer-to-peer lending
Friends tofamily
Friends tofamily
OnlineMicrofinance
OnlineMicrofinance
PersonalFinancial
Management
PersonalFinancial
Management
Open Funding players
Open funding players represent new funding market, yet still very fragmented and with growing competition
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B etween the industry-players
` Exchanging data about funding opportunities
` Exchanging data about funded investments
` Enabling new platform features
With other stakeholders
Each company requires to exchange data aboutits activity and actual loans to different
stakeholdersx R egulatorsx Shareholdersx Institutional investorsx Suppliers
Marketview
Marketview
C ommonmethodo-
logies
C ommonmethodo-
logies
ITEfficiency
ITEfficiency
AssetTrans-actions
AssetTrans-actions
Integration
Integration
W ith growing competition, exchanging data is becoming key
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` Asset definitionsEquityDebtx Amortised / In finex Interest rate datax
Events : repayement, extension, defaults,
` P roject detailsx Activity sector x Fund allocation
` Lender & B orrower characteristicsx
Gender x Work activitiesx Educationx Location
` Transaction metricsx Amounts fundedx L isting timex Funding timex R eturn
C ommon standards will allow cross-
players transactions and increased
integration that this sector requires
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` Crowdfunding platforms - European Consortium currently being gathered in B russels Association to be defending legislation and common data sharing standards
` P rivate initiativesP rosper.com filing every loan with SEC through common standards
Calls from experts in the US for a Crowdfunding association, developping common data sharing standards
` P ublic initiatives
` Future initiatives : e.g. X BRL workgroup ?
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` Grow VC International offers a new global service to enable earlyphase companies access to funding
` Open new investment market more equal opportunities toachieve dreams as an investor or entrepreneur
` Grow VC opens the startup asset class to more people not tocompete with the existing players, but to open a whole new market
` Grow VC is a true community of practice involving entrepreneurs,ordinary investors and advisors
x A lot more than a digital intermediary
` Target to get different funding networks to work together
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1. Community Fund 2. P rivate Investment 3. Work Investment
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1. Funding roundL imits and stateThe state is managed by the system and defined usersR ules to manage the state
2. Funding instrumentE.g. micro-investment (through fund or similar structure), direct investment, or work investmentEach intrument has its own qualitative and quantitative elementsStandard could include a minimum set, but also an option to add new instrumentsL imited permissions to modify
3. Members: Funder (i.e. investor) and StartupN ame and address the minimum information for identification
Standard should define a minimum set of information and an option to add other fieldsL imited permissions to modify
www.growvc.com 9
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www.growvc.com 10
Funding Round is an object that includes parameters and
it is always linked to a startup and several offers.
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www.growvc.com 11
E ach main object has several parameters, free fields
and parameters with restricted value
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1. P 2P and C rowd1. P 2P and C rowd- -fundingfundingvia Community Fund investments
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2 . Match2 . Match- - making andmaking and negociatingnegociating tooltool
for Pr ivate investments
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3 . Reward professionals3 . Reward professionalsW ork investment scheme
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E ach company has a funding round linked to itself, it can be active or not
active
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www.growvc.com 18
Funding process for a startup; startup can have one funding round at once, but
several consecutive
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` Grow VC P latform developed using anopen architecture that takes advantageof emerging web based tools andpractices
` The Grow VC P latform is a fully webbased, L AMP stack application builtusing the symfony PHP and other opensource libraries
` AP Is to mobile application, and under construction to 3rd party services
` The Grow VC P latform uses a relationaldatabase for data persistence and theMySQ L database engine is used indevelopment
` Apache web server used
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` Open A P I to other services` B ased on modern standard tools and database solutions` Support for several languagues and characters` N ot only interfaces to other finances services, but also
e.g. to social networks, mobile platforms, and widgets` Minimum set of information for each object, with an
option to add more elements and information
www.growvc.com 20
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www.growvc.comTwitter: @growvc
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Lionel SlusnyDirectorMobile: +33 6 50 68 66 88Landline & Fax : +33 1 46 94 66 46lslusny@loftfi.com
Loft Solutions France
55 Avenue Marceau75116 Paris
Brussels | Paris | Luxembourg
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` A unique blend of finance expertise & innovations
Opt imisa tion
Ope r ational enhancements usi ng management techn iqu es & pur pose- buil t qua ntitative too ls
Finance & r isk managementope r ations
F inance 2.0
Busi ness develo pment
Proc ess enhancements usi ng on line
tools and web ser vices
Online finance playe r s
Investment management
New techno logies integr ation and proc ess o ptimisa tion
Asset manage r s & equity investo r s
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Core statistics` 7229 registered members
$16 721 135 total capital available$5 000 000 in co-investment funds$13 495 unallocated community funds1 758 total number of startups73 active startups$20 100 501 value of active funding rounds
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