Linked Finance is an Irish peer-to-peer lending platform that provides loans to SMEs. Since launching in 2013 it has lent more than €50m to Irish businesses, including The Irish Fairy Door Company and Iconic Offices. Its core product connects ordinary members of the Irish public with local SMEs seeking fast, affordable finance. The company recently secured €50m in funding from Banco BNI Europa to expand lending capacity. The funds will be deployed over a two-year period to increase lending to Irish SMEs and will complement existing user-sourced capital. Leadership says the injection will allow an immediate increase in lending to local businesses. Linked Finance is a peer-to-peer lending platform launched in 2013 that connects lenders with Irish SMEs. The company has lent €34.5m to Irish SMEs, with €14m repaid to platform lenders to date. The €2m funding announced will be used to support the company’s expansion plans. Leadership changes include the appointment of former Ryanair deputy CEO Michael Cawley as chairman. Financially, Linked Finance recorded a €1.2m loss in the year to end April 2016 and had a shareholders’ funds deficit of €1.8m at year-end. Long-term liabilities stood at €2.55m, largely related to prior funding from Frontline Ventures, and at the end of 2016 the company had €943,000 cash on hand against €326,000 in short-term creditors. Linked Finance operates a peer-to-peer lending marketplace that connects private investors with SMEs seeking funding. Founded in 2013 by Peter O'Mahony, the platform emphasizes partnership between lenders and borrowers and says borrowers receive non-financial support from the community. The firm reports a lending community of 8,000 people and says it has supported over 250 Irish businesses with loans totalling about €7m. The company plans to use new funding to double headcount, expand the business and improve its IT. Linked Finance aims to ramp up lending to SMEs to around €20m in 2015 and to €250m by 2017.

Total raised

$63M

Funding rounds

3

Latest round

Equity

Latest activity

Jun 2018