

New crowdsourced fund, for entrepreneurs [canada] - mtw
http://colektivo.com/

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gsmaverick
Awesome idea. Typically entrepreneurs in Canada have had a hard time finding
money to fund their ideas. Hopefully this solves the problem for some of them.

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mtw
yes, there are much less investment funds and also less banks in Canada,
compared to the US. This is going to be introduced as an viable and trusted
source of capital for new & growing businesses.

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cool-RR
This looks great. The number one question for me is: Will it operate outside
of Canada? I'm from Israel, will I be able to invest/borrow?

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JNiquet
We will first start in Canada. Regulations are different in every country. If
we could we would target the world, unfortunately we cannot afford it for the
moment.

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cool-RR
I can see why it's a trouble to let non-Canadians borrow; But what about
investing? What's the legal trouble with letting foreigners invest through the
internet? Isn't it just like opening an internet store, except the product is
"Colektivo credits" or something?

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mtw
there are many problems, one of them is money laundering, like criminals who
could use the service to get "clean" money. which means Colektivo need to
track individual investors and make sure they are in Canada.

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juliend2
I'm also in Montreal. It's good to know that some people here are doing
interesting stuff.

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mtw
if anybody has questions, leave a comment, we'll try to answer them

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trevelyan
Is it legal?

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JNiquet
Yes it is.. We will give you more details shortly.

Keep in mind that it's not a P2C lending website, but rather an investment
fund (2 separate companies) managed on the Internet. It makes a huge
difference.

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danielharan
Is shortly in the next couple days or next couple months?

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JNiquet
Months

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danielharan
Smells like a con, I explain why here:

[http://www.danielharan.com/2009/01/04/colektivo-another-
mont...](http://www.danielharan.com/2009/01/04/colektivo-another-montreal-
con/)

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jeromegn
And I commented here: [http://www.danielharan.com/2009/01/04/colektivo-
another-mont...](http://www.danielharan.com/2009/01/04/colektivo-another-
montreal-con/#comment-780)

I can't see how this is a con.

I work on this project btw. We just didn't see the use of a "who are we?"
page, but it's no secret.

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Dilpil
It looks pretty awesome but I can't imagine it being legal.

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tptacek
It's debt, not equity.

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DenisM
In US it doesn't make a difference - a "security" is any promise to enrich a
person by work of others. Fixed-income vs. equity distinction is immaterial.

