Breaking news: p2p lending platform Mintos* will run an equity crowd on british equity crowdfunding platform Crowdcube. Mintos states ‘As far as startups go, Mintos has raised very little capital so far. We have grown to become the market leader in continental Europe largely fueled by our own revenue. We see a huge market opportunity ahead of us, and to accelerate our growth and develop new products we are raising money. Our fundraising round includes both venture capital and crowdfunding. ‘.
No details regarding the amount to be raised or the valuation have been shared yet. The pitch is set to go live in late November
Launched in February 2017, Mozzeno* is a Belgian platform through which private individuals can indirectly finance loans granted to other individuals and businesses.
You can read an interview with one of the Co-Founders here.
Funds were raised from existing shareholders such as the W.IN.G Fund, and also provided by Federale (Federale Verzekering / Assurance).
Frederic Dujeux, one of Mozzeno’s co-founders, explains: “Federale is a mutual cooperative insurer, and that specific structure was what sealed the deal for Mozzeno. With this cooperation, we welcome a major new shareholder who brings in experience and solid credibility in both investment and lending businesses. Moreover, Federale Verzekering’s positioning is perfectly aligned with Mozzeno’s collaborative model.”
Jean-Marc Mayeur, Chief Investment Officer at Federale, adds: “We have been monitoring Mozzenoâ’s project for several months. In a domain that is so complex and subject to so much regulation, we are deeply impressed by their ability to consistently find innovative solutions. The success that Mozzeno has achieved so far in the Belgian marketplace is a clear indication that it can continue the same rapid pace of growth in the coming months.”
New resources to accelerate Mozzeno’s further growth
The funds that have been raised will be applied to bolstering Mozzeno’s financial foundation and accelerating development. The aim of the collaborative platform is to become a major player in the consumer and business lending market.
Xavier Laoureux, Mozzeno co-founder, adds: “Mozzeno is ready to step up as a major Belgian player in the area of digital lending, having already granted 2,000 loans totalling 15,000,000. The newly raised funds will enable us to target an even greater audience. Now we can take serious steps to increase our brand awareness. And in recent months we have significantly improved our IT systems and user experience. From now borrowers applying for a credit on our platform can link their bank accounts, a development that will make it much easier for them to prove their income and expenses.”
Mozzeno is also a community of more than 6,000 private investors. In order to provide them with a wide range of investment options and improve customer experience, Mozzeno has developed a series of service lines.
Services for businesses: a focus on lending-as-service
As much as before, mozzeno continues to provide services to businesses. It does so in part by providing its innovative technologies to other financial players, but also by creating opportunities for non financial businesses to create a lending or investment offer and fully outsource its operations to mozzeno.
Baltic property lending platform Estateguru* has just launched a round on Seedrs* to raise up to 2 million EUR in new funding at a pre-money valuation of 28.8M EUR . Estateguru was launched in Estonia 6 years ago and has since expanded into the Latvian, Lithuanian, Finnish, Portugeese and German markets. Using the platform 47,000 investors have funded over 1,400 loans with a volume of 202 million EUR for an average return of 11.8% (as per Estateguru statistics page). All loans are secured by mortgages. Estateguru says that so far all recoveries of defaults have returned 100% of the capital and just the length of discovery varied sometimes taking months, sometimes taking years.
Estateguru plans to use the raised capital to further develop the product, especially improving features for institutional investors. Estateguru* can build on the experiences it made in a two-year relationship with German Varengold bank which has provided a credit line to finance loans. A second goal is to expand into further markets. In a recent investor webinar CEO Marek PÃ¤rtel named UK as a potential market, stating Estateguru already holds the required licenses since last year. Furthermore Estateguru will implement integration with payment provider Lemonway.
PÃ¤rtel said in the webinar that Estateguru has doubled in size every year in the past and expects the fast growth to continue in the future.
Baltic property p2p lending marketplace Estateguru* announced, that it has raised a 1.3M EUR round led by Speedinvest f. Speedinvest f is a focus fund launched by Speedinvest, targeting Fintech investments across Europe. Speedinvest will support EstateGuru in its geographic expansion across Europe.
Marek PÃ¤rtel, founder and CEO of EstateGuru, outlines the companyâ€™s mission to become the largest pan-European real estate financing marketplace: ‘Today, EstateGuru has become the largest platform in mainland Europe, showing an average annual growth rate of 100%. Simultaneously, we have discovered excellent opportunities to further increase our market coverage and it is for this purpose that we have drafted a clear technological development plan that requires a strong partner in order to be implemented successfully.’
Christopher Zemina, Investment Manager at Speedinvest, explains the background of the investment: ‘EstateGuru is the story of a small team that has achieved extraordinary growth without much external funding. The team has executed their plans and constantly outperformed our expectations. We are determined to support the company in its next stage of growth.’
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 Scotlandâ€™s entrepreneurial and finance scene, and the Scottish Investment Bank. The companyÂ 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 â€œThink Outside The Bankâ€ 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 Pickeringâ€™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 Ââ€“ the passive Growth ISA and Income ISA, and the active Self-Select ISA.
Stuart Lunn, LendingCrowd CEO and co-founder, said: â€œHaving 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.â€
Jock Millican from Equity Gap said: â€œWe 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.â€
Kerry Sharp, Director of the Scottish Investment Bank, commented: â€œWe are delighted to provide continued support to LendingCrowd who have demonstrated real market traction with their innovative peer-to-peer lending platform in Scotland.â€
Bitcoin based SME marketplace lender Bitbond has received a commitment from Obotritia Capital to fund loans worth 5 million Euro through its platform. Additionally, Obotritia invested an undisclosed amount of equity to acquire a stake in Bitbond.
With the debt commitment, SME loans from European prime borrowers will be funded instantaneously on Bitbond. This will reduce the time it takes for business owners to apply and receive a loan to 30 minutes.
The equity investment from Potsdam based Obitritia will be used by Bitbond for further product development and marketing. Bitbond plans to continue growing its user base with online sellers and small businesses who need working capital financing.
Over 1,700 loans worth 1.4 million Euro were originated through Bitbond since its launch in 2013. 90,000 users from 120 countries registered with the service to date.
Founder & CEO of Bitbond Radoslav Albrecht said: ‘The debt commitment by Obotritia brings Bitbond to the next level in our efforts to provide universal SME financing. The next step is to work with partners. Such partners could be online marketplaces who want to add value to their platforms by giving their merchants access to instant cash through Bitbond.’ Continue reading →