Spain: CNMV authorizes MytripleA & Lendix as crowdlending platforms

The Spanish Securities Exchange Commission (CNMV, Spain’s financial regulator) has authorized MytripleA as a Platform for Participatory Financing, the formal name for a p2p lending platform. This is one of the first actions to implement Law 5/2015 Promotion of Corporate Financing. MytripleA already benefits from a Payment Institution license (which can be passported within the EU) granted by the Bank of Spain, which authorizes MytripleA to make loan disbursements and receive loan instalments within the regulatory environment for banking payments. This is an additional regulatory requirement in Spain, which is not required by other European countries.

With this new authorization, MyTripleA becomes the first crowdlending platform to have both of the required authorizations in Spain. Competitors entering Spain, will not be able to use the the so-called passporting provisions from a financial regulator outside of Spain and will need to apply for a Platform for Participatory Financing license before being able to operate in compliance with Spanish regulations Law 5/2015 Promotion of Corporate Finance provided a unified legal framework for crowdlending platforms and securitized funds, and made CNMV responsible for their creation, authorization and supervision. Crowdlending has experienced rapid growth across Europe. The Spanish market last year grew 266% according to the website Within the new regulatory framework and with the supervision of CNMV, a greater degree of awareness of the alternative financial services market is expected.

French Lendix announced that it received its formal CNMV accreditation to operate as a P2P lending platform in Spain. The Spanish entity will be the first Lendix international market to open. It will target financing of credits to SME, for amounts ranging from 30,000 to 2,000,000 Euro, duration of 18 to 60 months and at interestrates comprises between 5.5% et 12%. Companies presented on the platform will be selected and analyzed by Lendix credit analysis team and will need to generate a turnover of at least €400’000. Non accredited private investors* will be able to lend up to 3,000 Euro per project with a total maximum yearly amount of 10,000 Euro, while no limit will apply to accredited private investors nor institutional investors. The launch of Lendix’s spanish platform is scheduled for Q4 2016.

Equity crowdfunding platform Crowdcube also received authorization.

MytripleA provides loans to companies with funds raised from private and institutional investors. The platform started operations in April 2015 and since then has made loans to 143 Spanish SMEs for over 4 million euros of loan value. According to MytripleA investors have earned an annual return of 7.6%.

Sergio Anton, CEO and co-founder of MytripleA, said: ‘Alternative financing is growing rapidly in Spain and we are very happy to have received the formal approval of CNMV. It is very important to continue offering our investors and companies the highest standards of quality and regulatory compliance. With this approval, we can continue our rapid expansion within the regulatory framework”.

‘We’re delighted that Lendix is authorized to operate as a crowdlending marketplace under the new regulated environment in Spain.’ said Olivier Goy, founder and president of Lendix. ‘For Lendix, working in a clear regulatory environment is paramount and we are even more honored, as an international platform, to be allowed to operate in Spain.’


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