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Irish P2P platform Flender raises EUR 10 mln

Wednesday 29 August 2018 | 01:12 PM CET

Irish P2P platform Flender has raised EUR 10 million to expand its reach of SME loans.

It is understood that this is part of the EUR 50 million debt financing round announced earlier in August 2018.

The aim of this sought investment is to allow the company to expand into property and asset-backed lending in the next six months, according to the company.

The investor is Eiffel Investment Group, which has stakes in a number of P2P companies, including RateSetter and Funding Circle.

Flender will seek to help Irish SMEs with this new funding, whose loans carry an interest rate of between 12-15% and have a maximum size of EUR 200,000.

Flender says it has made EUR 2.5 million of loans to date to SMEs and helped create 192 new jobs.

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