Milan-based P2P platform closes an investment round led by Italian VC firm P101.
Italian peer-to-peer platform BorsadelCredito.it has raised €1m in a funding round led by an Italian venture capital firm called P101. The fresh capital injection will be employed by the platform to increase its loan origination volumes and to strengthen its strategic position within the still nascent Italian P2P space.
Founded in October 2013, the platform is one of the main Italian peer-to-peer lenders, alongside the likes of Smartika and Prestiamoci. BorsadelCredito.it focuses on business loans and is committed to lending money to creditworthy borrowers within three days of application. According to the platform, more than 10,000 SMEs have requested loans on the website to date, and more than 500 investors have expressed their interest in this new form of investment since inception.
Ivan Pellegrini, CEO of BorsadelCredito.it, commented:
“2016 will be a year of strong growth for fintech and particularly for P2P lending. Hence, it is critical to promptly invest in new technologies to offer Italian borrowers and investors new instruments to access cheap credit and higher rate of returns. P101 represents our ideal partner that will help us to growth in the foreseeable future.”
P101 is a venture capital fund focused on digital and technology driven companies. Founded in 2013, the firm aims to support entrepreneurs that need expertise on scaling and leading within their respective markets. P101 counts 18 companies in its portfolio, including the like of Actions, Bauzaar and buru-buru.
Giuseppe Donvito, Partner at P101, said:
"We are delighted to support the team at BorsadelCredito.it as they continue to grow and deliver value to both sides of their marketplace; the new capital injection will boost the company growth helping to consolidate the Italian market"
BorsadelCredito isn’t the only Italian platform to have recently closed an investment round. Indeed, at the end of December Prestiamoci raised €2m with the help of a mix of private and institutional Italian investors, including the likes of Innogest SGR – one of Italy’s main venture capital funds.