Blackmoon Financial Group has raised $2.5m in equity funding to expand its marketplace for balance sheet loan investment.
The funding for the Moscow-based company comes from A&NN Group, Flint Capital and Target Global.
The company’s technology is designed to offer marketplace lending as a service to balance sheet lenders enabling them to access institutional capital.
The service allows institutional investors to gain access to the balance sheet loan market with Blackmoon’s platform offering independent scoring and loan assessment as well as continuous due diligence.
Founder and CEO Oleg Seydak said “Lending is one of the universal structures of the modern financial system. And unlike other players, we’re not trying to replace banks; we want to give them and other balance-sheet lenders a unique tool to improve efficiency and risk managementâ€
Blackmoon says it has seen its monthly transaction volume grow by a multiple of 2.5 since June and surpassing $5m in September.
The company currently works with lending institutions across the US, Russia and Eastern Europe but plans to use the funding to launch a solution for banks early next year.
It will apply for a US broker and dealer licence in the second half of 2017.
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