Germany-based CrossLend, a loan securitisation solution, has received a €14m investment.
The investment was supplied by ABN AMRO’s Digital Impact Fund, Earlybird and solarisBank. As part of the deal, ABN AMRO has formed a strategic partnership with the company to improve access to international capital for Dutch companies.
CrossLend facilitates investment in European loans while making the capital available digitally and immediately. Investors can use the marketplace to build a diverse portfolio of loans, while lenders can expand their opportunities.
ABN AMRO Digital Impact Fund director Hugo Bongers said, “CrossLend is an established player that has found a way to handle Europe’s complex cross-border capital market flows more efficiently.
“We believe that this solution will set a possible new industry standard. In addition, this investment further broadens and strengthens our local relationships in Germany, being one of the leading FinTech countries in Europe.â€
Last month, CrossLend and solarisbank formed a strategic partnership to enable solarisBank to establish a ‘balance sheet light’ model. This service, which is due to launch H1 2019, will generate loans in a manner which passes them onto investors directly or with a delay and without putting long-term strain on the bank’s balance sheet.
Earlier in the month, fellow German FinTech troy received a ‘seven-figure’ investment from investors including High-Tech Gründerfonds and 3E Capital Group.
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