LEND reported in a press release that it has successfully closed a Series A financing round. The company based in Zurich was able to raise a total of 6 million francs. The funding round was backed by venture capital fund Alpana Ventures plus new and existing angel investors.
LEND operates a peer-to-peer lending platform and revealed that pension funds, family offices and banks are increasingly also funding credit projects, though retail investors will remain an important component in the future. LEND prides itself on having a “strong track record in private and student loans”. Since June, the fintech offers financing solutions for SMEs and transacts second charge mortgages.
“LEND has rapidly developed into a household name for borrowers and investors,” commented Pascal H. Widmer, Managing Partner at Alpana Ventures. It will “continue to shape the market in Switzerland and we are excited to help the company grow further and secure its leadership”.
With these fresh funds, LEND intends to “further advance the digitisation of its platform, professionalise new business areas and secure institutional credit facilities to finance loan projects”.
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