New social network financial institution, BankToTheFuture.com has launched after making it into the Top 50 of Sir Richard Branson’s global competition.
The online crowdfunding platform is the first of its kind, evaluating customers on their social media ‘capital’ on Facebook, Twitter, Linkedin and Google+, rather than just credit rating like traditional banks.
Measuring factors such as reviews, social media activities and recommendations, BankToTheFuture.com helps members to build their social capital score for the future and plans to offer customers finance from crowdfunding, crowd-investing and crowd-lending.
However, the company will only see money invested in businesses that seek to bring about new value and create jobs for the future.
Sir Richard Branson praised these values after the company was placed in the top 50 in the Virgin Unite Screw Business as Usual Competition, saying “I like the goals of BankToTheFuture.com, where everything is transparent and open and people can see what happens with their money.
“It is great that they are offering support to entrepreneurs and businesses that will create jobs in the future.”
Fire rescue device inventor, Life Lite Ltd is already using the BankToTheFuture.com services and CEO Simon Dixon is confident that many more companies and investors will benefit from the new financial institution.
He said, “The goal was to build the world's first social network financial institution where everything is transparent and open and people can see what happens with their money, as well as offering support to the entrepreneurs and businesses that deserve it.
“By signing up to www.BankToTheFuture.com, ordinary people can now invest in the country’s future businesses, a game that was previously only available to rich people.”