Online loan marketplace Lendix has received ?200m in a debt financing round to help support over 600 SMEs.
The financing came from The European Investment Bank Group, CNP Assurances, Eiffel IM, Groupama, Zencap AM, Matmut and Decaux Fr?res Investissements.
Lendix has already received ?120m of the loan and the first deployment of funds will be in February. Lendix will look to finance over 600 European companies with loans ranging from ?30,000 to ?5m.
France-based Lendix helps SMEs to directly borrow from individual and institutional investors and without the need of collateral or insurance. Borrowers can select the companies they wish to back and receive monthly repayments on all their commitments. Annual interest rates on the platform range between 2.5 per cent and 9.9 per cent.
EIB European Investment Fund managing director Pier Luigi Gilibert said, ?Our contribution to the fund reflects our strong commitment to French and European SMEs. Our objective is to support the development of companies while facilitating their access to new and attractive financing methods.p>
Last year, the company closed a ?90m debt financing round, which went on to fund almost 250 European SMEs, according to the company. European Investment Fund committed ?18.5m to the company previous debt round.
Earlier in the year, online P2P lending marketplace LoanBook closed up to ?737k in its crowdfunding campaign. The Spain-based company received commitments from 297 investors and sold 6.53 per cent of its equity.
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