Tikehau Capital has acquired small business crowdlending platform Credit.fr, in a deal worth ?12m.
Credit.fr lets?individuals lend money to SMEs, with no entry fees or management and a potential return of up to 8.7 per cent. Death and disability insurance is available to borrowers.
Through this platform Credit.fr has helped finance 217 companies, raising over ?13m across 13,000 loans. The company has made several partnerships with financial institutions, including HelloBank!.
This investment will help Credit.fr offer institutional investors solutions for investing in new asset classes and continue development of small French businesses.
Tikehau managing director Guillaume Arnaud said, ?We have been monitoring SME crowdlending platforms in Europe for some time now, particularly in France, where the market has strong growth potential.
“The acquisition of Credit.fr provides us a unique smaller business lending knowhow and allows us to expand our range of financing solutions and therefore address most of French companies.p>
France-based Credit.fr has been incubated since 2015 by Truffle Capital.
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