Flender is granted its P2P credit license

By Lisa Walls-Hester on 2nd May 2017

P2P/Marketplace Lending

The platform will also expand operations into Ireland

Flender is granted its P2P credit license

Peer-to-peer friends and family lender, Flender announced it has now received its full authorisation from the FCA and has also launched operations in Ireland.

Flender claims to be the first platform which formalises the existing lending market between family and friends. Its target audience is businesses or individuals who want to leverage their customers or their existing networks.

The platform launched this year following an equity fundraise on Seedrs in December when it sought £500,000 for 10 per cent equity.

The platform says it has funded loans of over €900,000 since its soft-launch, without any marketing or advertising. It has seen demand from companies in a wide range of industry sectors including construction, F&B, energy companies, retailers and more. It reports that it has attracted over 750 registered users, 138 campaigns submitted with 11 currently live on the platform.

The company this month launched its Irish operation in Ballsbridge, Dublin.

Speaking at the launch, co-founder, Oli Cavanagh said that a number of Irish businesses have already reached out to their customers and contacts asking for anything from €20,000 to €100,000 in crowd-funding finance through Flender.

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