Member Article

North East’s first equity crowdfunding platform receives direct authorisation from the FCA

Growth Capital Ventures, the developer and operator of the North East’s first online equity crowdfunding and co-investment platform, has been granted ‘direct authorisation’ from the Financial Conduct Authority (FCA), the body which regulates all financial activity in the UK.

Direct authorisation means that GrowthFunders, an online equity crowdfunding and syndicated investment platform developed and operated by Growth Capital Ventures, launched in April 2014, can now introduce debt-based opportunities, as well as continuing to offer high quality investment opportunities on the platform.

Such permissions mean that high growth investment opportunities can now be offered to a wider investor base of suitably-qualified investors.

Growth Capital Ventures is now in a position to launch new products and services, such as debt-based securities.

Craig Peterson, co-founder and COO, Growth Capital Ventures, said: “Becoming directly authorised by the FCA has been a major milestone for us; It can be quite difficult to achieve and the process involved is extremely rigorous. I am delighted with the whole Growth Capital Ventures team.

“Our new permissions allow us to develop new products and services, such as loans and debt securites, which will help us to continue supporting ambitious businesses with high growth potential.”

Norman Peterson, co-founder and CEO, GrowthFunders, said: “Direct authorisation from the FCA means that we now have our own suite of permissions and are able to offer high growth business investment opportunities to a wide range of suitably-qualified investors.

“A wider investor base means that successful businesses can receive an intelligent funding mix through co-investment and syndicated deals.”