This announcement will see the platform make plans to launch its Innovative Finance Isa (IFIsa), which will allow people to invest up to £20,000 a year tax free.
The House Crowd is also set to launch a new auto-invest product this month to coincide with its new website.
- Downing Crowd seeks to raise £1.82m
- Industry reacts to 2,000 IFIsas opened
- P2PFA strengthens P2P industry standards
Frazer Fearnhead, founder and CEO of The House Crowd (pictured above), said: “We are extremely pleased to announce that after a very long 27 months from applying, we have finally received our direct authorisations from the FCA.
“It’s been a long drawn out and complicated process, partly because of the different types of products we offer (both equity and peer-to-peer) and partly due to shifting regulatory goal posts.”
The House Crowd plans to launch its IFIsa before April to assist investors who want to transfer funds from their existing Isa accounts or make use of their annual allowance for 2017/18.