Banco BNI Europa
Avª Engenheiro Duarte Pacheco, CC das Amoreiras, Torre 1-Piso 7, Lisboa, 1070-101, Portugal
Overview
Banco BNI Europa is a financial institution with the ambition to grow significantly over the next upcoming years. It was created in 2014 and it intends to challenge the high street banks while using the latest technology offered by the FINTECH industry in terms of risk analysis, time to market and customer experience.
- Total investments
- 1
- Lead investments
- 1
- Investments · 12mo
- 0
- Active investors
- 0
Sector focus
- Financial Services
Investment portfolio
- Linked Finance
Led · Equity · Jun 2018
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.
Team
No current team members are available.