By Oliver Smith on Friday 11 December 2020
The third institutional placing that MarketFinance has made via CrossLend.
With grand lending plans for 2020, MarketFinance has brought onboard fresh institutional funding from an unnamed European bank.
The announcement comes as part of a tie-up with fintech CrossLend, which provides a European debt marketplace for lending platforms to tap into.
It’s actually the third such placing that MarketFinance has made through CrossLend in the last year, with previous placings in dollars, euros, and sterling.
“As we grow our product offering and client base we're excited to be able to offer even more investors the opportunity to be a part of the pandemic recovery and enable more small businesses to get the working capital they need.”
This third placing includes loan receivables partially guaranteed by the government’s Coronavirus Business Interruption Loan Scheme (CBILS), which MarketFinance has been part of.
This funding is being directed towards supporting smaller and younger SMEs, with lending products tailored to helping them scale.