P2P Global Investments has announced its intent to raise £200 million in a new funding round. P2P Global Investments became the first ever P2P investment fund to trade shares on the LSE last summer (LSE:P2P). At the time of the listing P2P Global stated its intent to purchase loans from P2P lenders such as Zopa, Funding Circle and other participants in the fast growing peer lending industry. The additional funding should not come as any surprise to industry followers as the board of directors announced it was considering an additional funding round last November. The new funding was primed by the fact that in November “73% of the net proceeds raised at the time of the launch of the Company have been deployed. Additionally the company has further expanded both its number of platform relationships and equity interests in platforms since the end of October and expects to see an increasing number of opportunities going forward.”
“This is an exciting investment strategy in a fast growing sector and I am glad to say we are delivering on our plan outlined to investors in the prospectus issued at the IPO.”
P2P Global Investments will offer the C Shares at an expected price of £10 per share. The prospectus is expected to be released soon.
P2P Global Investments stated objective is to provide shareholders with an attractive level of dividend income and capital growth through investments, directly and indirectly, in consumer and SME loans and in corporate trade receivables that have been originated through online peer-to-peer (P2P) platforms in the UK, US and Europe. P2P Global has also indicated it may take direct equity stakes for themselves in peer to peer platforms.
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