By Daniel Lanyon on Monday 3 February 2020
The Netherlands based OIMIO says it will be providing finance for the 'underserved' small and medium-sized commercial real estate market.
OIMIO, a commercial real estate lending platform, will deploy OakNorth’s “next-generation” credit platform ahead of its launch.
Targeting loans between €1m-10m, OIMIO says it will focus on small and medium-sized real estate investors in the same way as larger clients “by leveraging machine learning, credit science and cutting-edge data analytics technology.”
Rishi Khosla, co-founder of OakNorth, said: “We know from leveraging the Platform via OakNorth Bank in the UK, that the positive multiplier effect of supporting small and medium-sized businesses is substantial.”
Jeroen Belt, founder of OIMIO, said: “Small and medium-sized commercial real estate investors need a partner they can trust who can provide them with finance from €1 million to €10 million that is customized to their unique needs quickly.