ShareIn to power its first crowdfunded bond offering

ShareIn chief executive Jude Cook. Picture: Chris Watt
ShareIn chief executive Jude Cook. Picture: Chris Watt
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Edinburgh-based crowdfunding platform ShareIn has hailed a “significant” deal to offer the first retail bond using its technology.

The firm, co-founded by chief executive Jude Cook, has lent its expertise to investment manager Downing, which is targeting advised clients with a one-year bond offering a fixed rate of 6.25 per cent.

Cook said: “We are thrilled to be working with Downing to deliver this crowdfunded renewable energy bond. It’s the first time our platform has been used for bonds and it marks a significant addition to our product offering.”

The launch comes after ShareIn last month helped Hibernian FC kick off an effort for supporters to own up to 51 per cent of the Championship club – a move it said marked the first time that a football team has enabled fans to buy shares directly on its own website.

READ MORE: ShareIn hopes to win over more fans after Hibs tie-up

Julia Groves, founding chair of the UK Crowdfunding Association and former chief executive of renewable energy crowdfund specialist Trillion Fund, will lead the crowdfunding team at Downing, which is headed by chief executive Tony McGing.

Downing has already brought in about £1 million of pledges for its bond, which will invest in the solar power sector, and is aiming to raise a total of £3.2m.

Chief executive Tony McGing said: “Downing will open up this market to investors who are keen to participate, but want the reassurance that the opportunities have been assessed by their normal advisers and are brought to market by a highly respected provider.”