In the next 180 days, the regulation must be published through an SMV resolution with the requirements for companies to request authorization to develop this new financial crowdfunding business in Peru.
In this sense, What impact could the development of this new crowdfunding industry have?
1.- New crowdfunding companies
The companies that are already , as well as the companies of the financial system included in through a subsidiary constituted in Peru, will be able to develop the crowdfunding business requesting authorization for their activities.
In addition, the that have requested authorization from the National Banking and Securities Commission (CNBV) in Mexico, the that has obtained authorization from the Financial Superintendence of Colombia, and could become new players for the market.
2.- Growth of the negotiated volume of negotiable invoices
According to the (CAVALI), in 2019, Peruvian companies have financed themselves with invoices for PEN 28 426 million soles (USD 8 788 million US dollars), an amount that almost doubles PEN 15 493 million soles (USD 4 694 million US dollars) reached in 2018. This amount represents about 2.5% of the Peruvian Gross Domestic Product (GDP).
It is expected that for the next few years, the negotiated volume of negotiable invoices will reach 9% of Peruvian GDP, in line with what happened in the Chilean market where factoring operations in the financial industry have been consolidated.
The growth potential of the negotiated volume, as well as the market yields obtained between 12% and 60% annual effective rate (IRR) could be attractive for participatory financial financing through the crowdfactoring modality.
3.- Innovation in new businesses
The advances made by the Securities Settlement and Clearing House (CAVALI) for the annotation in the account of electronic securities such as digital notes, and for suppliers of the Peruvian Government provide the conditions for innovation in new businesses to crowdfunding companies.
The 5 impacts of the D.U. 013-2020 for the new crowdfunding industry would be the emergence of new crowdfunding companies, the growth of the negotiated volume of negotiable invoices, innovation in new businesses, the best financial conditions for raising capital, and increasing the alternatives investment.
4.- Better financial conditions for raising capital
Through crowdfunding platforms, technology-based companies (StartUps), as well as family businesses, would have better financial conditions to raise capital through public offerings of securities with the issuance of new shares complying with more flexible regulatory requirements than the , as well as simpler procedures for trading shares in an alternative trading market.
The recent creation of the for PEN 70 million soles (USD 21 million US dollars) that will be managed by to invest in funds that invest in technology-based companies ( StartUps), as well as the good practices of that Peruvian family businesses have been implementing, would give better ratings to share issuance programs.
5.- Increase in investment alternatives
The low level of financial culture of investors has made investments in real estate in Peru through the acquisition of houses, apartments and offices the most preferred, although in most cases they turn out to be unprofitable investments due to the overvalued property prices in Lima at the time of acquiring the property and the low value of the monthly rentals that often does not cover with the monthly fee of the credit paid to financial institutions.
With new investment alternatives, investors will be able to obtain better returns for their surplus investments through these crowdfunding platforms by increasing their risk-adjusted return.