Income, a company that is offering secured investments in loans, has closed a seed funding round on €1.3m.
The round was led by Tolaram Fintech and saw participation from Seedrs and Seedblink and other new and existing early-stage investors. Following the round, Income has a valuation of €10m.
Founded in 2020, Income claims it is the first platform to offer simple and secured investments in loans. The firm stated that it offers an easy start with quick investment strategies that enable their clients to grow their money up to 12% yearly, investing in assets secured by the loan originators’ listed loan portfolio.
According to Income, it will use the newly raised capital to develop further and improve the products and scale of its business.
Income founder and CEO Kimmo Rytkönen, “Income is well-positioned to benefit from the fast growth of Fintech lending globally. The past year has shown us that we are no longer proving a concept, but there is a demand for our product from investors and fintech partners. The growth opportunities are nearly endless. We already see established FinTechs connecting with us to arrange a listing of their loans for investment.”
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