A specialist lender to SMEs today announced the completion of its first Continental European investment.
GLI Finance Limited has acquired a 5% stake in the Danish invoice trading platform – Dansk Faktura Børs. Dansk allows SMEs to tackle cash flow issues by auctioning their invoices online in exchange for instant capital. Invoice finance is particularly attractive to investors seeking lofty short-term returns.
Geoff Miller, CEO of GLI Finance, commented:
“This exciting partnership marks our first investment in Europe and reinforces our focus on providing a broad range of financing solution to SMEs. Dansk Faktura Børs are perfectly positioned to become a leading player in Europe within invoice financing and we are delighted they have chosen to partner with us. We look forward to building our partnership well beyond this initial investment.”
Juri Cetti, Co-Founder of Dansk Faktura Børs, said:
“We are excited to have GLI Finance as a significant investor and partner in our business. We believe that their experience in the UK will add significant long term value to our business. GLIF have an excellent track record with their other platforms and we look forward to working with Geoff and his wider team.”
We are beginning to see an increasing amount of institutional money being invested through the various alternative finance platforms. The GLIF deal represents another method of institutional involvement – one that is also gaining traction (ie. http://www.altfi.com/article/112).
AltFi is returning to Amsterdam for its second annual Summit in the city. The inaugural event last year was a roaring success, with key figures from across Continental Europe's alternative finance and digital banking sectors highlighted. These included Jeroen Broekema, managing director of Funding Circle Netherlands, and Mieke van Engelen, head of innovative partnerships at ABN AMRO's standalone lending platform, New10.