Official Letter Granting Authorization to M2crowd Administradora de Proyectos, S.A. de C.V. to Organize and Operate M2crowd, S.A. de C.V., Collective Financing Institution

DOF: 29/07/2021

OFFICIAL LETTER granting to M2crowd Administradora de Proyectos, S.A. de C.V. authorization for the organization and operation of a collective financing institution to be named M2crowd, S.A. de C.V., Collective Financing Institution.

At the margin, a seal with the National Emblem, which reads: United Mexican States.- TREASURY.- Ministry of Finance and Public Credit.- National Banking and Securities Commission.- Presidency.- Official Letter No.: P046/ 2021.

Subject:

Authorization for the organization and operation of a collective financing institution to be named M2crowd, S.A. de C.V., Collective Financing Institution.

M2CROWD ADMINISTRADORA DE PROYECTOS, S.A. DE C.V.
Presa Salinillas 370, interior 502
Col. Irrigación, C.P.11500,
Miguel Hidalgo, Mexico City.

TO:

MR. JAMES SIMON DALGLEISH
Legal Representative

With a writing presented on September 23, 2019, M2crowd Administradora de Proyectos, S.A. de C.V. (M2crowd or the company) requested authorization from the National Banking and Securities Commission (Commission) to organize and operate as a collective financing institution to be named M2crowd, S.A. de C.V., Collective Financing Institution, attaching the corresponding supporting information and documentation.

As background, it should be noted that this Commission warned M2crowd within the term established in the Law for the Regulation of Financial Technology Institutions, in order for it to address various observations and recommendations regarding its authorization request, granting it the extension requested from this authority.

Regarding the above, M2crowd submitted various documents and information in order to respond to the aforementioned warning. Likewise, this authority required M2crowd to submit various complementary documents and information in order to be in a position to address its authorization request, so that company complied with the request for complementary information and sent updated documentation and information regarding its file. The company requested an extension of the resolution term and an extension for the processing, which were granted.

On this matter, the Interinstitutional Committee in the session held on March 12, 2021, based on articles 11 and 35, in relation to article 15 of the Law for the Regulation of Financial Technology Institutions and,

CONSIDERING

FIRST.- That the documentation and information presented in connection with the authorization request for the organization and operation of the collective financing institution to be named M2crowd, S.A. de C.V., Collective Financing Institution, meets the requirements provided for in article 15, in relation to article 39 of the Law for the Regulation of Financial Technology Institutions and with articles 3, 4 and 6 of the General Provisions applicable to Financial Technology Institutions, as well as with the rest of the regulation that corresponds to it by its nature.

SECOND.- That from the analysis of the documentation and information received, it was concluded that from the legal, financial and operational point of view, the requested authorization is appropriate, so the following were adopted:

AGREEMENTS

" SEVENTH. The members of the Interinstitutional Committee, based on articles 11 and 35, in relation to article 15 of the Law for the Regulation of Financial Technology Institutions, unanimously approve the authorization for the organization and operation of a Collective Financing Institution to be named M2crowd, S.A. de C.V., Collective Financing Institution, under the terms of the proposal presented. "

The entity whose organization and operation is authorized will be subject to the following:

BASES

FIRST.-

The name of the company will be M2crowd, S.A. de C.V., Collective Financing Institution.

SECOND.-

It will have its corporate domicile in Mexico City.

THIRD.-

Its duration will be indefinite.

FOURTH.-

The amount of its initial social capital will be $9,411,599.00 (nine million four hundred eleven thousand five hundred ninety-nine pesos 00/100 M.N.), represented by a total of 552,442 shares, without nominal value, divided as follows:

• $6,411,599.00 (six million four hundred eleven thousand five hundred ninety-nine pesos 00/100 M.N.) represented by 517,062 shares, without nominal value, Series F, representative of the minimum fixed capital, divided as follows:
  • 236,384 Shares without nominal value, Class "I".
  • 102,253 Shares without nominal value, Class "III".
  • 178,425 Shares without nominal value, Class "IV".
• $3,000,000.00 (three million pesos, 00/100 M.N.), represented by 35,380 shares, without nominal value, Series "V", divided as follows:
  • 5,049 Shares without nominal value, Class "I".

FIFTH.-

Its corporate purpose will correspond to the activities indicated in article 15 of the Law for the Regulation of Financial Technology Institutions and will carry out the operations and provision of services established in articles 16, fraction I and 19 of the aforementioned Law for the Regulation of Financial Technology Institutions.

SIXTH.-

The authorization referred to in this official letter is, by its very nature, non-transferable.

SEVENTH.-

The institution will be subject to the supervision of the National Banking and Securities Commission and the Bank of Mexico, in the exercise of their respective attributes, as well as, of the other competent financial authorities under the terms established by law.

EIGHTH.-

The services consisting of collective debt financing that the institution provides by virtue of this authorization, as well as the other operations it carries out, as well as its organization and operation in general, will be subject, in what is not expressly stated in this official letter, to the Law for the Regulation of Financial Technology Institutions, to the rules and general provisions applicable to Financial Technology Institutions issued by the National Banking and Securities Commission, to the provisions regarding its operations issued by the Bank of Mexico and to the other current norms and provisions and those that are issued in the future by any competent authority, including those related to operations with resources of illicit origin and financing of terrorism, which by their nature are applicable.

In relation to the above, M2crowd must observe the terms and attend to the obligations contained in Official Letter P047/2021 dated March 16, 2021.

This is issued based on articles 16, fractions I and XVII of the Law of the National Banking and Securities Commission and 12 and 41, fraction I of the Internal Regulations of the National Banking and Securities Commission.

Respectfully,

Mexico City, March 16, 2021. - President, Juan Pablo Graf Noriega. - Initials.

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