Spanish p2p lending marketplace LoanBook announces a new partnership with Sage, provider of cloud accounting, payroll and payments software, to offer Sageâ€™s Spanish customers a direct, in-product channel to alternative finance.
As part of the collaboration, Sage will offer its SME and accountancy customers access to LoanBookâ€™s working capital loans, both in-product and within Sageâ€™s wider ecosystem, stating Sageâ€™s customers will benefit from a dedicated loan request portal enabling LoanBook to access customer data in order to improve the quality and speed of its loan underwriting.
James Buckland, CEO of LoanBook, commented: ‘We are excited to go a step further in our collaboration with Sage with a direct in-product integration. This partnership is based on the shared vision and commitment of Sage and LoanBook to support the SME community in Spain in becoming more competitive through improved access to finance and to innovative technology solutions.’
LoanBook has lent 21 million Euro to Spanish SMEs during the last 12 months and says it if providing a net annual return of over 5% for its investors.
LoanBook Capital is a Spanish peer-to-business (P2B) finance platform, providing an alternative to traditional savings and fixed income products to investors of all types via direct participation in loans, and other forms of credit finance, to mature, good quality Spanish SMEs.
LoanBook provides credit origination and management services to clients. These services are supported by an online platform, which gives investors access to credit opportunities through an auction marketplace, as well as a soon to be launched secondary market for trading loan participations.
What are the three main advantages for investors?
As with other P2B platforms, the main attractions for investors of this model are typically greater risk adjusted returns, control and transparency over investments and lower fees. LoanBook is no different in these characteristics: we provide access to an asset class that offers a return that exceeds that available from traditional fixed income investments with comparable characteristics (e.g. risk and liquidity), we allow investors to manage the risk and return profile of their portfolio online in a transparent way, and we do not charge fees to investors, other than for providing liquidity through our secondary market.
As with advantages to investors, LoanBook offers the borrower the typical advantages that you would expect from a P2B platform; competitive and transparent cost of capital (interest rates & fees), access to an alternative channel of finance and a quick and easy application process.
How did you start Loanbook Capital? Is the company funded with venture capital?
LoanBook was started at the end of 2012 by two founding partners with their own capital and initiative. The companyâ€™s shareholder base has moved on somewhat since then, with each of the three-man management team, and a number of the employees, having an ownership stake in the company. Continue reading →