Rebuildingsociety has announced that its will be building ThinCat’s new UK platform, as well as its platforms in Australia and Poland.
White Label Crowdfunding, rebuildingsociety’s technology sister company, specialises in building platforms for crowdfunding and peer-to-peer lending purposes. It has already created platforms for eMoneyUnion and Invest Next Door. And now will be constructing a new version of ThinCats’ peer-to-peer lending platform – ThinCats 2.0. It will also build platforms for ThinCats’ joint ventures in Australia and Poland, which will trade under the ThinCats brand.
Kevin Caley, the Managing Director of ThinCats, commented:
“The success of the ThinCats model has attracted interest from around the World from joint venture partners who want to adapt the same business philosophy to their local market and our new software platform will make it easier to establish and support those partners as well as accelerate the rate of innovation for ThinCats in the UK. We are pleased to have found a technology partner with the experience and commitment to make the transfer as painless as possible and we look forward to working together to make the most of the opportunities provided by this rapidly growing market.”
Daniel Rajkumar, Managing Director, rebuildingsociety and White Label Crowdfunding added:
“Collaboration is a very strong theme in this market. In order to grow the overall size of the space, we need to work jointly, which we do through trade associations and by creating mutually beneficial relationships, like this one.
“When ThinCats approached me to help I was happy to oblige – it is a very respected brand in the market, so we’re excited about helping ThinCats expand and raise awareness of peer-to-business lending and White Label Crowdfunding around the world.”
Work has now started on the new ThinCats platforms and the hope is that it will launch in January 2015, with a launch in Poland in the early months of 2015 and a launch in Australia slated for November 2015.
The white label opportunity is a clear but under-appreciated growth area within the alternative finance space. White labeling is the process of allowing a business to make use of software that another company has developed and commercialised. It is just one part of an ecosystem that is quickly being built up around the industry. We are now beginning to see dedicated law firms, technology companies, news websites and a host of other supporting cast players. The expansion of this ecosystem is one of the key indicators of the success of the AltFi space.