KPMG forms second alliance in two months with crowdfunding platforms
KPMG has expanded its offering to SMEs by entering into an alliance with debt crowdfunding platform InvestDen. As reported in our briefings last month, InvestDen also provides a secondary market for investments funds via the platform as well as originating fund raising campaigns. KPMG will offer a range of services and advice to businesses raising capital through the crowdfunding platform. The alliance is the second for the global professional services company in as many months, following an alliance with P2P business lender, MarketInvoice, announced last month.

KPMG has agreed an alliance with debt crowdfunding platform InvestDen, expanding its alternative finance offering to small businesses.

Through the deal KPMG will offer a range of services and advice to those businesses raising capital through InvestDen.

KPMG has made a great play into the SME market in recent months. In August, it confirmed an alliance with peer-to-peer business lender MarketInvoice, and in October last year invested £40m in its enterprise offering.

Ben McDonald, head of enterprise for London Region at KPMG, said: “In our conversations with entrepreneurs, we hear time and again that the funding landscape for small businesses can be complex and difficult to navigate, something which is spurring the growth of alternative finance providers which are able to provide clarity and simplicity in their offerings.

“We see crowdfunding as one such alternative source of capital for ambitious businesses, which is why we’re delighted to enter into this alliance with InvestDen. The alliance is fully aligned with KPMG’s strategy to work with companies at all stages of development across the UK.”

Big Four rivals PwC and Deloitte have both made concerted attempts at deeper market penetration in the SME space. In July, Deloitte confirmed a “strategic partnership” Sage, while PwC this week confirmed its own deal to provide cloud-based accounting service with the software house.