Daniel Rajkumar Tells the Rebuildingsociety Story at FinTech North

FinTech North 2017 (7)On Wednesday, 26th April, founder and CEO of rebuildingsociety.com, Daniel Rajkumar, spoke at FinTech North, an annual event designed to generate collaboration within the Leeds City Region, and enhance the FinTech reputation within the region and beyond.

The event, organised by White Label Crowdfunding and Whitecap Consulting, with valued input from Dr. Chris Sier, FinTech Envoy for the North, and Leeds Digital Festival, took place at AQL, Salem Chapel, in Leeds city centre. Speeches, presentations and panel discussions focused on diverse topics related to the FinTech industry, ranging from payments and artificial intelligence to diversity and open data. The day was divided into four sessions: FinTech Landscape, FinTech Fundamentals, Innovators and Game Changers.

FinTech North 2017 (50)Daniel opened the first afternoon session, Innovators, and told of his company’s journey from idea to live FCA-authorised platform. He explained what attracted to him to the buzzing city of Leeds, and how much he enjoys living in the city, before giving the audience an overview of his professional career. He began with the founding of Web-Translations, which in turn led to the launch of rebuildingsociety.com and later White Label Crowdfunding, the software as a solution company dedicated to creating and launching crowdfunding platforms all over the world, including the UK, Singapore and America.

A lack of access to business capital piqued Daniel’s interest in the finance sector. The internet has revolutionised so many industries, Daniel thought, so why not finance? He explained that the initial funding phase was challenging; that a scepticism regarding the relatively unknown concept of crowdfunding posed problems. He, along with the rebuildingsociety.com team, each of whom brings expertise and knowledge of their field to the ever-expanding business, worked hard to get the business off the ground and then achieve FCA authorisation.

“Just recently we were authorised. That’s been an amazing achievement. The journey has been pretty challenging, really rewarding and really satisfying; the authorisation was a huge achievement and a big relief. I was elated, and exhausted! I think we all were in the team.”

He voiced his appreciation for his rebuildingsociety.com colleagues, thanking them for their hard work during the long, challenging journey to FCA authorisation. He also complimented the FCA themselves, highlighting the way in which they facilitate the authorisation process for SMEs.

In light of the recent authorisation, Daniel explained, rebuildingsociety.com can now offer an Innovative Finance ISA. “We all need to start thinking much more purposefully and passionately about where we put our money. We need to choose the companies we’re interested in, and peer-to-peer lending is an opportunity to do that.” Daniel also explained how the Appointed Representative scheme, offered through rebuildingsociety.com, will work.

Looking forward, Daniel commented on a potential collaboration with the banks, saying “partnering up and cooperating with different FinTech companies is, I think, what’s likely to happen.” In terms of rebuildingsociety.com, “following the theme of cooperation and collaboration, we really want to make the most of the finance community that exists – preferably in and around Yorkshire.”

“I’m looking to find partners who can either help to embed financial technology into the existing financial sector, or to make connections with people who can contribute to the businesses, or just to find new members, people who are willing to crowdfund and support local businesses.”

Read more about the FinTech North event on the WLCF blog, or take a look at the photos on the Facebook page.

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