UK-based peer to business property lender, Credit Peers, announced on Tuesday it has secured a £45 million credit line from a European investment management firm. This news comes just a few months after the lender launched its platform.
As previously reported, The online lender allows individuals to lend £500 and up for property transactions. Credit Peers noted that lenders may invest within minutes of registration and borrowers may gain access to capital within weeks. Investors may select the property in which they would like to invest or they may choose to Credit Peers auto match product.
At the time of online lender’s launch, Torsten Hartmann, CEO of Credit Peers, revealed:
“We are setting out to revolutionise and democratise property financing by focusing on quality, speed, control and transparency. In the context of the uncertainty created by Brexit and the US election, we are confident in both the property and alternative finance markets. We want to allow everyone to benefit from the ongoing growth within the sector by helping them to lend funds against tangible assets that they can see, touch and feel. Credit Peers deals with all types of property from multi-residential to office and retail, and accepts individual lenders, but we only deal with a special type of borrower. This is what sets us apart from the P2P lending market. We are passionate about the importance of P2B as a way to offer the public additional peace of mind that their loans are made to well-established borrowers in the property market. Our extensive experience in the sector means that we are perfectly placed to be able to facilitate the P2B lending revolution.”
While speaking about the new credit line, Romain Cohen, Chief Investment Officer at Credit Peers stated:
“We are thrilled to receive this credit line that should help us to accelerate the company into its next stage of growth.”
Hartmann went on to add:
“Being able to secure such a financing supports our ability to originate attractive opportunities for institutional investors and family offices.”