Evaluating only FundPeru’s profile at its peak — without knowing the outcome — the model ranked Unit economics as the #1 likely cause. Documented cause: Regulation.
Key Events Timeline
FOUNDING
FUNDING
MILESTONE
CRISIS
SHUTDOWN
Full Analysis
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Documented cause
FundPeru built a crowdfunding and P2P lending platform for Peruvian SMEs, matching retail investors with SME borrowers needing working capital. The platform facilitated PEN 85M in loans to 340 SME clients. Peru's Ley de Fomento al Financiamiento de las MYPE (Law 31555) enacted in 2022 required crowdfunding platforms to obtain SBS authorization with PEN 1.5M minimum capital requirement plus a PEN 3M fidelity insurance bond. FundPeru had insufficient capital to meet the requirements and could not raise the emergency round needed to comply within the 12-month transition period.
Lesson
“For Peruvian crowdfunding: raise the SBS authorization capital requirements (PEN 4.5M+) as part of your initial funding, not as a future compliance item. The regulatory formalization requirement was predictable.”
Failure anatomy
Collapse type
Slow Death
🐌 LOW
Hype cycle
Decline
Moat type
Network Effects
Fatal mistake
SBS crowdfunding regulation required capital the company did not have