Among the many innovative finance platforms that are appearing on the market is Profit Farm, founded in 2021 and is already reaping excellent results. CEO Roberto Macina told us about it.
What does Profit Farm do and who is it aimed at?
Profit Farm is a lending crowdfunding platform where users can finance the purchase of judicial or tax credits. For example, the VAT generated by bankruptcies or uncollected receivables that small businesses have from the public administration: a product that until now has been reserved for institutional investors and proven inaccessible to small private savers. All users of the platform are free to participate in crowdfunding operations, which are published from a minimum funding of €500 and can earn up to 8% per year on the sum paid in.
How are you growing?
After launching in March 2021, we managed to generate very interesting numbers in the first months of operation. In 2021 alone, we have closed 10 campaigns, with a total value of 800k, and above all we have already returned two operations with an average interest rate of 6.75%. These results, in terms of positioning and user acquisition, were made possible thanks to a first round of investment from Business Angels led by Carmine Saladino, CEO of Essematica, for a total of 300k.
Are you interested in open innovation projects?
The FinTech ecosystem is very important for Profit Farm. It would certainly be useful to offer our product to customers of other FinTechs and to dialogue with institutions with whom to establish useful partnerships to offer more products for financing. We are sure that joining the Fintech District community will help us in this regard.
How is your team composed?
The team is made up by professionals in the NPL sector such as lawyers Cristiano Augusto Tofani and lawyer Francesco Sibilla, synergistic with experience in digital as founders of other startups, both mine and that of Mario Costanzo.