In brief - Institutional investors tap into the p2p channel
Rivers Leasing places £3m in notes through Crowdstacker
Rivers Leasing has raised £3m (€3.4) in funding through platform Crowdstacker. The lessor raised the capital through notes placed on the platform, granting investors a 6.5% return. Repayment of the notes has been guaranteed by Rivers Leasing’s parent, Rivers Finance Group.
MarketInvoice originates SME deals for Investec
MarketInvoice has signed a deal with Investec to act as originator for the bank’s SME financing business. Investec will be providing a £50m line to fund deals in the first year of the experimental partnership. MarketInvoice recently entered the business lending business itself, providing an unsecured loan offer next to its established invoice finance one.
Portugal’s BNI Europa backs Funding Circle with €50m in Germany
Portuguese challenger bank BNI Europa has provided €50m to Funding Circle to finance SMEs in Germany. This marked the beginning of a partnership that the bank said will extend to other countries where Funding Circle is active. BNI Europa’s first investment in a p2p platform was a £45m funding line to MarketInvoice last year.
1pm joins marketplace Mintos to boost originations
Lessor 1pm has joined Mintos as its first UK-based originator, starting with a six-month trial period. Mintos is a p2p marketplace where retail investors can participate in a variety of loans originated in European and Asian countries. Up to 90% of each loan from 1pm will be available to investors on the website.
Institutional marketplace for trade finance launches
Tradeteq, a trade finance marketplace aimed at institutional investors, has fully launched following a test phase. The platform aims to enable financiers to build their own “originate-and-distribute” model. 12 originators worldwide currently work in partnership with the platform, which the founders said will focus on Europe, Asia and the Middle East.
MarketInvoice gets £135m boost from Portuguese and German banks
MarketInvoice has been provided £90m from Banco BNI Europa and £45m from German investment bank Varengold to finance larger-size deals. Just like BNI Europa, Varengold had previously provided a £45m credit line to MarketInvoice. The bank has investments in a number of other p2p platforms, although it has not disclosed their names.