Liberum ventures down under by investing in Australia’s leading online short-term lender.
The Australia-based direct lender Loan Ranger has received an equity investment from Liberum. Loan Ranger’s focus is to provide short-term consumer loans to a select group of borrowers. These borrowers ultimately represent an attractive lending pool with cogent repayment characteristics. Liberum is a UK based investment bank that was instrumental in the development of P2P Global Investments – the first UK listed fund dedicated to investing in loans originated by global peer-to-peer platforms.
Loan Ranger is sure to welcome the equity investment from Liberum as the relationship is bound to offer the platform increased access to sources of institutional capital, not to mention the benefit of Liberum’s detailed understanding of the global peer-to-peer lending industry. Liberum will introduce Simon Atkinson as a Loan Ranger Director and Board Member. He joins Jeff McCarthy, a former Managing Director of Lending Club, who was appointed to the Board earlier this year.
Simon Atkinson commented:
“We see great potential in Loan Ranger and its management team to grow a sizeable lending group, offering a range of loan products. Key to this is Loan Ranger’s focus on providing its borrowers with a friendly and fast service, underpinned by a highly efficient automated system.”
“Around the world regulation is proving fundamental in accelerating the growth of new online, direct lending businesses able to provide finance in a more efficient way. The consumer protection legislation introduced last year in Australia provided that opportunity for a new lender such as Loan Ranger.”