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CivilisedMoney eschews banks for crowdfunding

By Hugh Jordan

November 9, 2011 | 1 min read

Digital start-up CivilisedMoney is crowdfunding £100,000 in an attempt to take on the banks and revolutionise the finance industry.

Founded by ex-Razorfish head of strategy, Neil Crofts and internet entrepreneur, Jason Scott, CivilisedMoney claims to be the world’s first peer-to-peer online banking business.

By encouraging people to invest a tenner by November 10th Croft and Scott hope to crowdfund £100,000 for 10% equity in the business

P2P sharing has rocked behemoths of the music and publishing industry over the last decade. CivilisedMoney aims to do the same to banks. People will be able to invest, donate, lend, borrow and transact money with each other at fair and transparent rates, cutting out the need for middlemen.

“CivilisedMoney is designed to enrich people, particularly our customers. The richer our customers are the better CivilisedMoney does,” Croft explains.“By contrast regular banks profit by indebting their customers. It offers a genuine alternative to the banks and a path to go beyond our current financial system.”

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