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Payments General

SimpleFinance attracts USD 15 mln in second round with SBI Group

Thursday 13 September 2018 | 02:30 PM CET

Russia-based fintech platform SimpleFinance has completed a USD 15 million equity fundraising round with an investment from the SBI Group.

SBI first invested in SimpleFinance in September 2017; including debt financing, the Group’s total capital commitment to the Company now stands at nearly USD 50 million following deal close.

This new investment will allow SimpleFinance to further enhance its technology platform and to continue lending portfolio growth. Thanks to a scalable origination strategy and exemplary risk management technology, SimpleFinance has achieved a strong ROE in the first half of 2018.

SimpleFinance raised external capital for the first time in June 2017, with a USD 30 million Eurobond issuance. (The bond has three-year tenor and annual coupon rate of 10.5%.) Three months later, in September, the SBI Group made its first investment in the Company during its first-round equity raise.

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