Interview with Grupeer

Interview with Alla Kisika, founder and Vladislav Filimonovs, COO of Grupeer

What is Grupeer about?

Alla Kisika: Grupeer is all about people! We have created the platform which is based on 3 pillars:

  • Security (protection)
  • Technologies (efficiency)
  • Benefit (profitability)

Our platform is not just the bridge connecting the borrower and the investors, Grupeer is a transparent environment in which the investors can feel safe, receiving fast and clear high profit, using the latest technologies.

What are the three main advantages for investors?

Vladislav Filimonov: As mentioned, the financial safety of our investors is our main priority. First of all, the number of outstanding or default transactions it is equal to zero. This indicator is reached only to our rigid scoring which eliminates nearly 75% of the loan originators interested to place the projects on our platform. The reverse side of the coin is lack of variety of the projects.

Secondly, we give a unique opportunity to diversify the portfolio, investing in business loans or in development projects within one platform.

And last but not least, all of our loan originators provide BuyBack guarantees for each project. Besides, our investors get access to all financial information of the borrower of the project. To convince of our advantages, we offer the minimum sum of the contribution of 10 EUR, we are sure that after the first experience, the investors will become our loyal customer!

As for development projects, in many scenarios, the management members of Grupeer are acting as a shareholder to have a full control towards successful implementation of it.

What are the three main advantages for borrowers?

Alla Kisika: To clarify, Grupeer doesn’t issue the credits and we are working with legal entities only.

“Fuel for your business.” The borrower has a possibility of refinancing due to the services of our platform, and it means that, the company will get the financial resources or as we call it – fuel to grow the company at the velocity of the rocket.

The size doesn’t matter. We consider borrowers of all sizes. And experience has shown that size doesn’t matter. Even if the borrower is small, but with good financial history, we are ready to provide favorable credit rates, fast result and high-quality services to grow together!

Great Customer Experience. We are sure that services and the ideas can be copied but what really distinguishes is the way the service is provided. Customer satisfaction is our Top priority. We practice the individual approach to each partner from the beginning to the very end.

What ROI can investors expect?

Alla Kisika: We can proudly say that now the average net annual return of Grupeer is 14.25% and it is the highest annual average rate on the market. Most of our projects have the stable interest rate of 14%, some of them, for example, the most loved by German investors- Finsputnik Platforma SIA projects have 15% interest rate.

It should be mentioned that there is no correlation between a high interest rate and the increased risk. Such high-interest rate is stipulated by company’s policy and marketing strategy which makes our platform attractive to check the mechanism of return of percent and principal.

Grupeer offers a wide variety of loans from several countries. How do you succeed in sourcing and checking these loans?

Vladislav Filimonov: As mentioned above, we don’t offer a wide range of the loans from the different countries but considering that we could critically improve our scoring system that pays off for 100% (we would like to remind that the number of expired and default transactions is equal to zero). Besides, our sales team started to work on attracting the new projects therefore soon we will please our investors with many new projects.

How did you get the idea to launch a p2p lending marketplace?

Alla Kisika: Life gave the idea of the platform development. In due time, the founders of the platform had a very serious project regarding the construction and commissioning of the Thermal power plant. At some point, when a large amount of financial means has been already invested and very little remained before the end of the project, the need of additional 3 million euros has appeared. Founders have faced a problem of the full amount as someone wanted to invest only 500’000 EUR, someone 1’500’000 EUR and these people were not friendly with each other therefore a certain sum of money hasn’t been collected till the deadline and the project was closed. And the conclusion was obvious –  human relationship shouldn’t influence implementation of the projects and that it is necessary to develop the platform which will provide such an opportunity. And Grupeer platform has been developed for this purpose.

Can you please tell us a bit about your background and the team’s background?

Vladislav Filimonov: Force and success of our company is our employees. From myself, I have gained a massive experience in leading Large Group of Multinational Teams as a Vice-President of Mastercard and while working in Pay Pal. This experience is now spread across all functions of Grupeer to make it even more investors-oriented platform.

Below you can meet some of our team members:

CEO – Andrey Kisiks is the professional developer with 20+ years of experience in European Union. Fields of activity: construction, residential real estate projects development, construction and operational commissioning of complex technical objects (Power Supply), Finance and Peer-to-Peer.

CMO – Leonid Tenkaluk is experienced Digital Marketing Manager with a demonstrated history of working in the information technology and sales industry. Skilled in Team Management, Marketing Management, Negotiation, E-commerce and Entrepreneurship.

We very thoroughly select our employees, as our loan originators. In April of this year, several strong experts joined our team, and, in a few months, we are planning to double the number of our teammates to boost our team and to be able to go from “good” to “great.”

Is the technical platform self-developed?

Vladislav Filimonov: Yes, our technical platform is 100% self-developed without using some “ready-to-use” software products. Besides that, we did not use any outsourcing services. The basic part of the platform is developed, but we continue to improve it on daily basis. We are planning to add several innovative solutions for the more convenient use of our platform in near future.

How is the company financed? Is it profitable?

Alla Kisika: The company is self-financed. As we have only started to conquer financial oceans, we didn’t manage to generate profit yet, but we are planning to reach a break-even already in the next year.

What were the main challenges when launching your platform?

Alla Kisika: As in any innovative field under that is not regulated by law we have faced several the bureaucratic issues which we are solving successfully. Secondly, we have spent a lot of time on development of the reliable scoring system to minimize any investor’s risks. And the main challenge today is to get our values over to the audience and to earn its trust.

Is Grupeer open to international investors?

Vladislav Filimonov: Yes, we are. Now, we work with investors who are EU residents. Soon, we will certainly expand our geography.

Where do you see Grupeer in 3 years?

Vladislav Filimonov: Our main objective in following 3 yeas is to become a leader service provider of the alternative investment market in EU. We don’t want to open plans prematurely, but we are planning to become the conductor to unique products in this market. To prove ourselves as the most innovative, safe and favourable platform.

You have one wish, that the regulator will fulfil. What is your wish?

Vladislav Filimonov: As they say – be careful what you wish for, you may receive it. Our sole ambition is the liberal relation to this field as P2P business is very perspective alternative for World economy.

P2P-Banking.com thanks Alla Kisika and Vladislav Filimonov for the interview.

International P2P Lending Volumes May 2018

The table lists the loan originations of p2p lending marketplaces for last month. With the most recent Funding Circle figures not available at the moment, Zopa leads before Mintos. I track the development of p2p lending volumes for many markets. Since I already have most of the data on file, I can publish statistics on the monthly loan originations for selected p2p lending platforms.
This month I added Grupeer.

Milestones achieved this month (overall volume since launch):

  • Linked Finance reached 50M EUR
  • Ratesetter reached 2.5 billion GBP

Investors living in national markets with no or limited selection of local p2p lending services can check this list of international investing on p2p lending services. Investors can also explore how to make use of current p2p lending cashback offers available. UK investors can compare IFISA rates.

P2P lending Statistic June 2018
Table: P2P Lending Volumes in May 2018. Source: own research

Note that volumes have been converted from local currency to Euro for the purpose of comparison. Some figures are estimates/approximations.
*Prosper and Lending Club no longer publish origination data for the most recent month.

Notice to p2p lending services not listed: Continue reading

Bondora Go & Grow – Bondora Rolling Out New Product

Bondora has been rolling out a new product called Bondora Go & Grow to select users since March. It will be officially launched in June, but existing users can contact support and ask for the product to be made selectable in their accounts.

Go & Grow is designed for the passive investors as hands off p2p lending. One of the main advantages is that Bondora says it is tax optimised.

The Bondora Go & Grow product features a target interest rate of 6.75% which will accrue daily. It runs completly on autoinvest. The investor just needs to join it and pay money into the Go & Grow account (or transfer it from the normal Bondora account). The Go & Grow account promises daily liquidity. There is a 1 EUR withdrawal fee making small withdrawals expensive but for portfolios of 1000 EUR or more and usual investment horizons this fee is negligible.

Bondora Go & Grow

How does Bondora Go & Grow work?

Simplified it is an autoinvest tool where Bondora invests the deposited money in loans on the Bondora marketplace (the investor does not see the individual loans). The investor automatically sells any claims for repayments and interests from these loans to Bondora which in return agrees to pay the 6.75% interest to the investor. Note that the 6.75% are not guaranteed but Bondora is very confident (based on their over 10 years experience) that they can achieve this yield. So basically Bondora invests the money on the market’s interest rates which are higher than 6.75 and the results influenced by defaults, late payments and cash drag, but Bondora is confident they are higher than 6.75%. Bondora pays the 6.75% to the investor and uses the surplus as reserve, which will be kept separate from Bondora’s funds.

What does tax optimized mean?

Bondora mentions two advantages:

  1. The product is net of any defaults. This can be advantageous for investors in countries where it is not possible to offset default losses againts interest earned for tax purposes.
  2. Interest accrues and is only credited at (final) withdrawal. This delays the point in time where interest is taxable according to Bondora.

So is this better than the ‘traditional’ Bondora product?

In my opinion this product is only the better choice, if the investor really does not want to be bothered with making minimal choices the Portfolio Pro requires and some monitoring. As described Bondora invests the money in the very same loans that are available in the traditional product and expects a higher yield than 6.75%.

For that very same reason I would caution investors to carefully consider, if they do want to take up the offered option to sell out their existing ‘traditional’ portfolio when opening/funding a  Bondora Go & Grow account. I assume that investors are very likely better off keeping that portfolio than selling it to Bondora at the price Bondora offers. However for an investor that really wants to sell an exitsing portfolio completly this offers a way to cash out (edit: see reader comment below) as the cash is than in the Bondora Go & Grow account and can be withdrawn instantly.

One caveat of course is that according to the T&C the liquidity for Bondora Go & Grow is subject to market conditions and not guaranteed. It reads a bit like the ‘normal market conditions’ wording that Assetz Capital uses for its Quick Access Account.

A lively discussion on the advantages and risks of the new Bondora Go & Grow product is running on the German form with around 100 posts on the subject.

EDIT: An earlier version of the article contained wrong information and has been corrected.

Bondora Go & Grow
Despite being in prelaunch (select investors only), Bondora Go & Grow already made up 5% of new investments in April (source Bondora blog)

 

International P2P Lending Volumes April 2018

The table lists the loan originations of p2p lending marketplaces for last month. With the most recent Funding Circle figures not availableat the moment, Zopa leads before Mintos. I track the development of p2p lending volumes for many markets. Since I already have most of the data on file, I can publish statistics on the monthly loan originations for selected p2p lending platforms.

Milestones achieved this month (overall volume since launch):

Investors living in national markets with no or limited selection of local p2p lending services can check this list of international investing on p2p lending services. Investors can also explore how to make use of current p2p lending cashback offers available. UK investors can compare IFISA rates.

p2p lending volume 04 2018
Table: P2P Lending Volumes in April 2018. Source: own research

Note that volumes have been converted from local currency to Euro for the purpose of comparison. Some figures are estimates/approximations.
*Prosper and Lending Club no longer publish origination data for the most recent month.

Notice to p2p lending services not listed: Continue reading

German Varengold Bank Provides Credit Line to Estateguru

Estonian property p2p lending marketplace Estateguru announced that it has secured its first institutional investor.

In March 2018, Estateguru signed the firm’s first institutional credit line to be invested in loans originated in the Baltic market with Germany based Varengold Bank AG.

Varengold Bank AG is a German private bank, headquartered in Hamburg. Founded in 1995 as an asset management boutique seeking to offer individual and high-performing financial products for private and institutional clients. In 2013, Varengold was granted a commercial banking license when it transformed into to fully fledged commercial bank.

Estateguru CEO and co-founder Marek Pärtel comments: “Establishing the EstateGuru – Varengold cooperation is a proof of having found a mutually beneficial cooperation model between a traditional financial institution and a fintech company. This is a clear sign that building a diversified portfolio of property backed loans is a very appealing instrument for institutional investors. Our Pan-European retail investor base is still the main source of capital. …”

Estateguru COO Mihkel Stamm adds: “Establishing a cooperation with Varengold Bank is an unprecedented assurance of the quality of EstateGuru’s business processes. The due diligence process was thorough and lengthy, during which Varengold’s representatives were convinced of EstateGuru’s product, procedures and the people behind the business.“

Since the establishment in 2014 Estateguru’s investor base of over 11 000 investors have funded in excess of 50 million EUR of secured property loans in Estonia, Latvia, Lithuania, Finland and Spain. With the recent developments, including entering 2 new markets in 2018 Q1, establishing an institutional credit line and an ongoing equity round, the firm is setting goals for the next European markets, to establish its Pan-European reach in coming years.

 

Interview with Narinder Khattoare, CEO of Kuflink

What is Kuflink about?

Kuflink is a peer-to-peer property investment platform that brings borrowers and investors together. Our borrowers seek quick access to short-term finance that a high street bank would be unable to deliver, and our investors seek competitive interest that beats the typical rates offered with regular savings and current accounts.

Investing in property has previously been reserved for the very wealthy, with the money and means to put significant sums towards developments. The fintech revolution, however, has opened up a wide range of opportunities to retail investors who want to make meaningful returns on their cash, and in turn, opened up borrowing opportunities for a range of projects that would previously be denied such quick access to loans.

Kuflink has built a peer-to-peer platform in this emerging space to give retail investors the opportunities that were previously only available to high net worth individuals and institutional investors. In doing so, it also offers developers bridging loans to fund projects across the UK.

Since our launch of the p2p platform in 2016, Kuflink lenders have invested over 17 million GBP, with 0.00 GBP losses to date.

What are the three main advantages for investors?

Firstly, investors are offered high rates of return associated with property investments, which due to the nature of the property market are often very secure and predictable. In this age of mass-market retail investment, property opportunities have one of the longest track records, as people have been investing in property for hundreds of years, and long before technological advancements allowed us to build an accessible P2P platform.

A second main advantage for investors is that Kuflink has a highly effective due diligence procedure with an exceptional track record. We’re so confident in our vetting of loan requests that we cover the first 20% of losses in each individual opportunity on the platform. We really believe in each loan, and investors can be confident in all opportunities, as like them, we trust the platform with our own funds at risk.

Thirdly, investors are only offered access to the very best opportunities, as Kuflink only approves around 30% of loan applications. This gives lenders peace of mind that their investment is very likely to be successful.

What are the three main advantages for borrowers?

We have been providing bridging and development loans since 2011 of up to 1 million GBP, and our lenders have invested over 17 million GBP in just under 2 years, proving highly advantageous for our borrowers.

Firstly, Kuflink gives property professionals highly competitive rates on development loans. Many of these highly secure projects may not otherwise find funding, as Kuflink’s due diligence process filters highly promising opportunities that others may incorrectly deem inappropriate.

Secondly, borrowers can access a huge number of investors through the p2p platform, and are provided with a highly regulated means of crowdfunding their projects. This allows developers to work on projects that people really want, and can help to build strong community relationships between loan backers and project managers, leading to increased opportunities for future project funding.

Finally, Kuflink’s on hand customer service team is highly responsive to any queries or difficulties with loans, and can offer instant advice and support in the event of any difficulties.

What ROI can investors expect?

There are multiple ways for investors to lend their money with Kuflink, and each of these carries different estimated ROI.

Using the Auto-Invest feature, the platform will automatically diversify investors’ funds, and can offer up to 5.35% interest pa gross*. Investors can also choose to invest in certain opportunities to have more control over their portfolio. This is through Kuflink’s Select-Invest feature, which can offer up to 7.2% interest pa gross* over shorter periods of time. Finally, our IF-ISA offering also allows investors up to 5.35% interest pa*, with a £20,000 tax-free allowance for 2018/19.

You are advertising “investors never lost a penny”. At a future point in time defaults will happen. What is the procedure for dealing with these and what overall unrecoverable rate of debts do you expect?

In the case of defaults, we instruct an insolvency practitioner to recover funds, however we expect our excellent track record to continue and hope we won’t need to act upon this in the future.

Narinder KhattoareIs the technical platform self-developed?

The platform has been developed by our CTO, Hari Ramamurthy, alongside in-house front and back-end developers to ensure the technology seamlessly compliments our P2P offering. Since our launch in 2016, the platform has been operating smoothly, while undergoing continuous updates and improvements. Our in-house technical team can respond immediately to any borrower or lender issues with the software.

How is the company financed? Is it profitable?

The Kuflink platform as it stands today has evolved from alpha bridging, which provided the funds for the launch of Kuflink Bridging, which hosted the initial P2P offering. Kuflink’s model, as with many P2P platforms, is to take a small cut from each transaction, and currently runs at a profit.

What were the main challenges when launching your platform?

One of the main challenges we have had to face is inter-departmental integration. With so many moving parts across different disciplines, from property due diligence experts, to finance and tech experts, making sure there are good lines of communication and correct pathways in place have been essential to our successful operation.

You offer an Innovative Finance ISA with tax advantages. Can you please provide some absolute numbers on how many UK investors have invested into this? And are there more new subscriptions or more transfers in of existing ISAs?

We currently have many IF-ISA account holders who have so far made significant investments. There has been a large influx of transfers in from other ISA providers from both new and existing Kuflink account holders, however we cannot comment on the exact number of account holders or investment value as these figures are commercially sensitive.

Is Kuflink open to international investors?

Our platform is open and accessible to overseas investors with a UK residency and a UK bank account.

Which marketing channels do you use to attract investors and borrowers?

We use a variety of marketing channels, from online advertising, to PR and even major sponsorship deals such as our partnership with Ebbsfleet United Football Club and their Kuflink Stadium.

What factors do you see impacting the British property market in the near future?

Brexit is of course a big issue that could potentially impact property in the UK, with an air of uncertainty surrounding the future of the market. Although we expect this to have a somewhat adverse effect on the markets, we believe that UK property will continue to be an attractive area of growth and investment, and should be relatively robust to any larger market perturbations.

Where do you see Kuflink in 3 years?

We currently have [a] positive outlook for the next three years, even in the face of uncertainty in the marketplace. Our trends show that there is a steady increase in loan applications alongside growing demand from investors for lending opportunities.

We also have plans to continue the work reinvigorating local communities around Gravesend and across the UK through the Kuflink Foundation. We hope to expand our charity and community work, which currently includes sponsorship of Ebbsfleet United, work with Kent County Council, and charities such as Age UK.

You have one wish, that the regulator would fulfil. What is your wish?

We work very closely alongside the regulator and are satisfied by their requirements. Our platform is fully functional within the current rules, and we find that these are more than sufficient for our platform to run smoothly, fairly, and profitably.

P2P-Banking.com thanks Narinder Khattoare for the interview.

Interview with Kristjan Koik, CEO of Flender

Flender launched a year ago. What did you achieve since launch?

  1. We have funded c. 1,300,000 EUR deals through our platform and we are proud that our defaults have remained at 0%.
  2. We have just finished equity fund raise where we raised successfully 800,000 EUR from world’s biggest VC Enterprise Ireland and private investors.
  3. We have strengthened our credit team with head of credit Colin Barry who came from AIB Bank and David McNamara ex director of Merrill Lynch International Bank. David has joined our credit committee and board of directors. This all means that our lenders can be assured that Flender has best in class underwriting practices.
  4. Following due diligence, Price Waterhouse Coopers is heading our debt raise from institutional finance providers.

We offer very attractive 10-11.5% interest rate to our lenders. Current default rate is 0% and our world class credit team will ensure great returns to our lenders.

You now want to raise a 50M Euro debt package. What will that be used for?

Funds will allow:

  1. Accelerate funding of the deals on our pipeline
  2. Loans on our marketplace will get funded quicker
  3. Offer bigger variety of credit options to borrowers such as higher ticket loans and property backed peer to peer loans

Can you please give details about the planned launch of property finance loans?

Our target market will be property developers and builders looking for working capital towards last phases of construction. Target loan size is 250,000-750,000 EUR.

Kristjan KoikHow will these loans be secured?

Loans will be secured against 1st legal charge on the property

What interest rates can investors expect on the property loans?

8-10%

When will we see the first property loan listed on the marketplace?

We are aiming for May 2018

You recently repaid a convertible loan. Why did you decide to repay that loan rather than convert this into equity stakes in Flender?

This was condition of our new equity investor. Investment allowed us to repay our loan participants with very generous 12% return.

Flender holds permission to lend in the UK. How are your plans progressing to offer loans in the UK market?

Our plan is to expand and grow our brand in Ireland. We will review our launch plan for the UK towards end of this year.

What are the main challenges in growing the business right now?

Now that our platform and model have been proven then our goal is to scale up. We would need to grow both the number of retail lenders and involve institutional finance for this.

We welcome your readers to participate in campaigns on our marketplace.

Can you share some demographics on your (retail) investor base?

  • Ireland 58.41%
  • United Kingdom of Great Britain and Northern Ireland 14.86%
  • Germany 13.74%

You have one wish that the regulator fulfils for you. What is your wish?

We would welcome EU wide regulatory framework for p2p platforms.

P2P-Banking.com thanks Kristjan Koik for the interview.

Brief: Crowdestate Opens Secondary Market

Crowdestate is an Estonian p2p lending market place focussing on property. It is somewhat compareable to Estateguru or Lendy, the difference is that Crowdestate has a wider mix of offers, including unsecured debts or equity. I published an interview with the Crowdestate CEO last year.

The projects usually come with a term of 1 to 2 years, occassionally a bit long or shorter. There were not that many projects in the past . Often only 1 or 2 a month. Recently the pace has been picking up. Investor demand strongly outweights supply. Often the autoinvest bids fill a new offer instantly, if not then it is often filled within a hour of coming on the plattform. There are no fees for investors. Only a few offers pay interest during term, with most accruing interest to be paid at the end of the term. There are no fees for investors.

I only invested in a handful of projects to gain some experience. Today Crowdestate launched a new look for the website. This is how my small Crowdestate portfolio is displayed:

Crowdestate Portfolio
My Crowdestate portfolio – click for larger view.

Crowdestate secondary market

Today Crowdestate launched a secondary market. There is a “Sell Shares” button besides each of my active investments. To test it, I just offered one of my loans at a markup. The marketplace allows sellers to set markups or discounts.

 

 

International P2P Lending Volumes March 2018

The table lists the loan originations of p2p lending marketplaces for last month. Funding Circle leads ahead of Zopa and Mintos, which is in the top 3 for the first time. The total volume for the reported marketplaces adds up to 599 million Euro. I track the development of p2p lending volumes for many markets. Since I already have most of the data on file, I can publish statistics on the monthly loan originations for selected p2p lending platforms.

Milestones achieved this month (overall volume since launch):

Investors living in national markets with no or limited selection of local p2p lending services can check this list of international investing on p2p lending services. Investors can also explore how to make use of current p2p lending cashback offers available. UK investors can compare IFISA rates.

P2P Lending Statistic March 2018
Table: P2P Lending Volumes in March 2018. Source: own research

Note that volumes have been converted from local currency to Euro for the purpose of comparison. Some figures are estimates/approximations.
*Prosper and Lending Club no longer publish origination data for the most recent month.

Notice to p2p lending services not listed: Continue reading

LendingCrowd Raises 2M GBP

LendingCrowd has secured an external funding round of 2 million GBP following a strong 2017 for the p2p lending company, with the proceeds earmarked for ramping up its sales and marketing activities.

The round was led by angel syndicate Equity Gap and included a number of private investors from Scotland’s entrepreneurial and finance scene, and the Scottish Investment Bank. The company  says it is on track to scale significantly during 2018 and intends to seek Series A funding over the next 12 months.

As part of its drive to build market position, LendingCrowd this month launched its debut television advert, designed to bring the opportunities available through P2P lending to a wider audience. The advert features Geoff, who decided to “Think Outside The Bank” and invest with the platform after becoming disillusioned with the low rates of return on other investments.

LendingCrowd has originated loan deals totalling 16 million to SMEs across Britain in the past 12 months period. For 2018, CEO and co-founder Stuart Lunn has set a target to more than double loan deals to around 40 million GBP. New clients in 2017 included Summerhall Distillery, producer of award-winning spirits brand Pickering’s Gin, restaurant chain Tony Macaroni and property lettings agency Umega Lettings.

Investor funds on the platform have grown rapidly, with much of the expansion attributed to the launch of one of the first Innovative Finance ISA (IFISA) products in February 2017. After a full 12 months of opening the LendingCrowd Growth ISA, 82% of investors have beaten the advertised 6% target return.

LendingCrowd, which is fully authorised by the Financial Conduct Authority, has over 4,500 investors signed up to its platform and is on track to significantly increase investor numbers this year. It now offers three IFISA products ­– the passive Growth ISA and Income ISA, and the active Self-Select ISA.

Stuart LunnStuart Lunn, LendingCrowd CEO and co-founder, said: “Having laid solid foundations for the business over the last couple of years, we now have a position in the market that is starting to pay dividends. We have a strong pipeline of both investors and SME demand and with such a strong trajectory, we are now actively speaking to the venture capital and private equity communities about our next phase of growth.”

Jock Millican from Equity Gap said: “We are extremely pleased that our syndicate members once again backed LendingCrowd, with this raise being the largest single investment by Equity Gap to date. Existing and new investors in LendingCrowd recognise the progress to date and the potential for the business to scale.”

Kerry Sharp, Director of the Scottish Investment Bank, commented: “We are delighted to provide continued support to LendingCrowd who have demonstrated real market traction with their innovative peer-to-peer lending platform in Scotland.”