30 March 2022

Mashfrog Group wins the Innexta tender

Our team will contribute to the development of the "Finnexta" crowdfunding platform.

Mashfrog won the tender organised by Innexta – a company of the chamber of commerce system, owned by Unioncamere and the main Italian chambers of commerce, which deals with facilitating access to credit and financial markets for SMEs – for the design, implementation and maintenance of a crowdfunding portal where companies can present their projects and collect the resources to implement them.

The platform will be developed by our development team and will host crowdfunding campaigns to raise equity-based crowdfunding for SMEs, with a view to later making available debt crowdfunding campaigns (involving bonds or debt securities) and lending crowdfunding campaigns (involving lending money to project promoters). The portal should therefore provide information on individual financing projects and manage the flow of money between lenders and applicants.

What makes the project particularly challenging is the need to design a platform with a structure and functionality that can guarantee not only the characteristics, functional specifications and guidelines provided by the client, but also full compliance with the relevant regulations – both at the national level (Consob Regulation) and at the European level (Regulation 1503/2020, ESMA technical specifications and other relevant documentation issued by the EU or its bodies) – and any indications dictated by the authorities, also based on the provisions of the European Regulation on crowdfunding. 

In addition, all system flows must guarantee the highest levels of security relating to integrity, confidentiality, availability, storage and backup of data and documentation. 

"We are very pleased that Mashfrog has been chosen for this Fintech project. We have the opportunity to create an innovative platform, in line with European regulations, and with all the credentials to become one of our flagships," said Fabio Dellutri, Solution Sales Director Digital Business Unit of Mashfrog."Accepting this invitation to tender was a great challenge that allowed us to learn a lot and aim for increasingly ambitious goals. The result represents the fruit of the efforts of our entire team, and I would like to thank them for their professionalism." 

"The Finnexta platform was created with the aim of acting as a catalyst for the growth of the entire Italian crowdfunding system. In fact, our aim is to make ourselves available to associations, Confidi and above all other platforms in order to create synergies and amplify a system that still has great unexpressed potential in Italy," said Danilo Maiocchi, Innexta's Executive Director. "We aim, for example, to launch campaigns by innovative companies that can then be relaunched in second rounds by other platforms, rather than launching sharing campaigns with other platforms. A further point of value would be to provide interested platforms with a quota exchange showcase in order to facilitate awareness of these opportunities already offered by some Italian platforms."