Ireland-based P2P lender Flender has reportedly secured a â‚¬75m investment to increase its lending capabilities, according to a report from the Irish Times.
The FinTech platform enables businesses to access loans between â‚¬15,000 and â‚¬250,000 to support the launch of a new product, business expansion, project financing, working capital, and marketing.
Investors can access a variety of investment opportunities making commitments from as low as â‚¬50 and seeing an average return of 10.4%, it claims. AutoFlend enables consumers to automatically lend money to businesses matching certain criteria.
The FinTech also offers the ReFlend service which lets anyone invite friends to join the platform and for every â‚¬1,000 euros the friend invests, the consumer gets â‚¬50.
Its new round of funding comes just months after it closed a â‚¬10m.
Marketplace lending sector is Ireland’s largest FinTech space, having received 44.3% of the total $981m to be investing globally.
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