Getting a mortgage through crowdfunding just got a little bit closer. Dutch startup Jungo received several compulsory permits of the Dutch financial watchdog Autoriteit Financiële Markten (AFM). With these, the company is allowed to procure mortgage loans .
20 percent of the loan is backed by the crowd, says Crowdexpedition, a research group looking into the added value of the collaborative economy. Consumers can join in with a minimum investment of 250 euro.
AFM allows Jungo to collect money from the crowd via its online platform, opening up a relatively new category of ‘consumer to consumer’ funding. So far crowdfunding has mainly been used to support business projects.