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Report: Sberbank looks to launch crowdfunding platform

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Report: Sberbank looks to launch crowdfunding platform

PAO Sberbank of Russia plans to launch a crowdfunding platform through which its retail clients will be able to lend money to companies, Vedomosti reported Jan. 16.

The platform is expected to be launched in the first quarter. It will offer risk assessment information about each company looking to raise funding, and clients will be able to make investments via a mobile application.

Sberbank will act as a co-investor on most of the transactions, the lender's management board deputy head Alexander Vedyakhin was cited as saying.