By Guglielmo de Stefano on Monday 11 April 2016
Marketplace lender for asset-based working capital P2Binvestor has today announced a new institutional investment relationship with MW Eaglewood Americas LLC, the US subsidiary of MW Eaglewood, a global asset manager that specializes in direct lending and peer-to-peer investment strategies.
Founded in 2012, P2Binvestor provides businesses with revolving lines of credit of up to $5m in size. With an average line of credit of $750,000, P2Bi has provided more than $150m in revolving credit to its borrowers since coming to market in early 2014. Last October, the platform launched “Ex-factor”, a revolving line of credit collateralized by accounts receivable, monthly recurring revenue or inventory.
The platform hasn’t revealed the exact details of the Eaglewood relationship yet, but we assume that the fund will be buying loans issued by P2Binvestor. Krista Morgan, CEO and cofounder of P2Bi, commented:
"We are excited to finalize a relationship with one of the top funds in the marketplace lending space. This partnership greatly increases the liquidity of our marketplace and enhances our ability to lend to new high-growth borrowers."
This is not the first time that the platform has partnered with an asset management firm. Last October, P2Binvestor forged its first institutional partnership with HCG Fund Management LP, a North Carolina-based alternative asset management firm. On that occasion, Krista revealed that the HCG deal represented the first of a series of institutional partnerships and that others were in the pipeline.
We’ll keep you posted on the Eaglewood partnership as and when further detail comes to light.