Crowdfunding Web Site Fancies Itself An Investment Bank

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Goldman Sachs. JP Morgan. BankToTheFuture.com.

While many crowdfunding sites have marketed themselves as an alternative to banking, BankToTheFuture.com, which has helped businesses raise 487,000 pounds since it launched in August last year, plans to apply for a banking license so it can expand its range of products to include things such as retail bonds….

BankToTheFuture plans to raise 2 million pounds over the next two months, in what would be the biggest ever equity crowdfunded deal globally, to invest in both technology and the regulatory process and hopes to have its license within 3 years.

"We want to take the best (investment banking) practices and strip out the worst practices and get finance to business and offer new opportunities to investors," said Dixon.

British crowdfunding site wants to become a bank [Reuters]

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