The FCA-regulated business finance platform is in the process of submitting its licence application to the Australian regulator as it looks to recruit local investors.

Crowd2Fund hopes to take advantage of the newly created fintech bridge between the FCA and the Australian regulator the Australian Securities and Investments Commission (ASIC).

Key benefits of the bridge include the speeding up of company licensing between the two territories, as well as more strategic collaboration between the FCA and ASIC in order to grow the respective markets of each country.

Rob Older has been appointed to head up Crowd2Fund’s Australian business in its early stages.

While Crowd2Fund goes through the process of obtaining a regulatory licence to operate, Rob and his team will be sourcing businesses seeking funds and will build the investor community.

Crowd2Fund believes that the regulatory and cultural alignment between the UK and Australia makes it an ideal market to enter.

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The platform feels that an increase of 30% in revenue from the Australian market is achievable within its first year and hopes the launch will provide experience to allow it to target other foreign markets, such as the United States.

“It’s fantastic that the governments recognise the importance of fintech and the alignment of regulation to allow us to trade easily in both markets,” said Chris Hancock, chief executive at Crowd2Fund.

“The Australian market has close ties to the UK and it makes perfect sense to work with them as an initial market before expanding further afield.

“Australia is one of the most prosperous and fast-growing fintech markets globally with a vast pool of talent and we are looking forward to exploring the new and exciting opportunities that this market presents.”

Crowd2Fund will be launching its Australian operation by partnering with InDebted.

The New South Wales-based debt collection software company uses artificial intelligence and digital communications methods, such as cookie tracking and WhatsApp messaging, to increase the effectiveness of debt recoveries.

“We are working with InDebted as it is an amazing piece of technology and completely revolutionises debt recovery,” added Chris.

“This is a great example of a collaborative relationship that will support the growth of the economy in both markets as well as the fintech sector.”