Irish P2P platform Flender raises €10m for SME lending

Flender raises €10m

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

  • This is part of the €50 million debt financing round announced earlier Aug 2018
  • The aim of this sought investment is to allow the firm to expand into property and asset-backed lending in the next six months
  • Paris-based Eiffel Investment Group is the investor, which has stakes in a number of P2P firms, 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 €200,000
  • Flender says it has made €2.5 million of loans to date to SMEs and helped create 192 new jobs