Announcement
ADVFN PLC : Agreement with businessagent.com
RNS Number : 8098S
ADVFN PLC
21 March 2016
21 March 2016
ADVFN PLC
Agreement with businessagent.com
ADVFN (LSE:AFN) is pleased to announce that it has signed an agreement with crowdfunding aggregator, Business Agent Limited ("businessagent.com") (the "Agreement").
Pursuant to the Agreement, ADVFN has agreed to introduce businessagent.com to its users and customers, by providing an exclusive listing on its website and mobile applications for equity and debt crowdfunding aggregation.
businessagent.com will initially spend £15,000 on advertising with ADVFN, but if it raises £2 million in funding, it has committed to spend another £60,000 in advertising. In consideration for this, ADVFN has been granted a 4 per cent. shareholding in businessagent.com, worth £120,000 at the current indicative equity valuation for businessagent.com of £3 million. The agreement is for a minimum of 3 years and shall continue on a month by month basis thereafter.
ADVFN will create a link to businessagent.com on the home page navigation of each of its websites. This will start in the UK, but it is envisaged that as crowdfunding becomes more established amongst ADVFN's overseas territories businessagent.com's services will be extended to those territories as well.
Clem Chambers, CEO of ADVFN said "Crowdfunding is still a new sector and one with great potential, quality is much better than quantity. businessagent.com brings the whole sector into one place".
Sacha Bright, CEO of businessagent.com said " this agreement not only catapults businessagent.com several years into the future in terms of traffic and users, but it is also a climactic event for crowdfunding. ADVFN's users invest regularly in the main financial markets and this is an opportunity to introduce professional high net worth individuals to equity & debt crowdfunding. The market up to this point has been grown by word of mouth from the high net worth retail investor.
Notes to Editors
businessagent.com lists every equity crowdfunded investment opportunity it can find and collates data on loan based crowdfunding thus enabling visitors to identify lending and investment opportunities all in one place. businessagent.com is also able to introduce companies to alternative loan providers and equity crowdfunding sites to raise capital for their businesses.
businessagent.com has a vision of creating the primary alternative finance market place through aggregation. Its mission is to help businesses get the funding they need and help investors improve their returns from their crowdfunding investments by allowing them to compare investments, see all the opportunities in one place and access data on the whole market so that they can make more informed decisions.
businessagent.com was founded in December 2013 and launched in July 2014. It received its FCA authorisation in September 2015. For the year ended 31 December 2015 businessagent.com made a loss of £164,331.
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Contacts:
Clem Chambers: clemc@advfn.com
Salmaan Khawaja / Jen Clarke / Jamie Barklem: 0207 383 5100
Grant Thornton UK LLP (Nominated Adviser)
This information is provided by RNS
The company news service from the London Stock Exchange
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