Wealthbullet raises funding primarily through FCA regulated funding channels in U.K. The roles and responsibilities of both counterparties are detailed below:
Wealthbullet Scope of Work
- Sourcing the right projects;
- Analysing the viability of projects desiring financing (Funding Requests);
- Submitting a credit report to our Funding Channel to try and obtain the initial approval;
- Educating the client regarding the process, timelines and costs;
- Assisting the client (where needed) with populating the Funding Channel’s data room – the client’s own data room needs to be copied into the Funding Channel’s set format for various reasons. This should only take a matter of hours to be done for an organised client;
- Assisting with the due diligence process to assist with it being completed in a timely manner by liaising with the client’s and Funding Channel’s teams;
- Providing feedback (where needed) on the Investment Memorandum produced for the client by the Funding Channel and which is sent by the Funding Channel to the Lenders/Investors to hopefully secure Binding Written Offer Terms (and which is supported by a validated data room for the client);
- Coordinating meetings and communications between the client, Funding Channel and Lenders/Investors to secure the Binding Written Offer Terms and executing this through to successful completion and draw down of funds;
Funding Channel Scope of Work
- To familiarise itself to the extent it deems appropriate and feasible with the business, operations, properties, financial condition and prospects of the client and the Funding Request.
- To assist the client in the creation of suitable documentation for distribution to potential Lenders/Investors;
- To identify, contact, and solicit Binding Written Offer Terms from prospective Lenders/Investors.
- To undertake a full compliance/due diligence check on the Funding Request in accordance with our regulatory duties which includes credit checks (with some or all of the following- Creditsafe; Dunn and Bradshaw; Worldcheck, Valutico and Statista; full KYC and money laundering checks;
- To undertake a review of the full business modelling and planning to provide commentary to try to make the Funding Request as fundable as possible (as required);
- To investigate risk management issues with respect to the funding deployment requirements. Specifically using their team of experts to deliver a managed deployment model, where appropriate;
- To assist in building an appropriate structure in order that the Funding Request can be undertaken for institutional debt delivery, where appropriate;
- To draft a presentation/investment proposal (Investment Memorandum) for the Funding Request to be presented to Lenders/Investors specifically for the purpose of raising funds on a structured basis or against a default risk wrapper and report feedback to the client in respect of such presentations;
- To report to the client on all positive responses on the Investment Memorandum and terms contained in any Binding Written Offer Terms from interested Lenders/Investors;
- Negotiate on behalf of the client the final terms of the Binding Written Offer Terms and work with both the client and Lenders/Investors towards successful completion of the Funding Request.