European Online Lender October Reports 1,270 Initiatives Receiving Financing Totaling €535M, €283M Repaid to Lenders

European online lender October reveals that it works with firms from all industries so it can help them with financing the growth of their operations. The October team notes in a blog post that since 2016, they’ve been supporting companies and they offer them “the possibility to diversify their sources of financing in a simple and fast way.”

The October team writes in a blog post that they offer their lenders “an attractive asset because they can lend from €20 to the project of their choice, obtain repayments every month and diversify their wallet across 5 countries.”

October further noted that through their platform, 1,270 initiatives have received financing for an amount totaling €535M from firms based in France, Spain, Italy, the Netherlands, and Germany. October also revealed that a total of €283M has been repaid back to their platform lenders.

October also mentioned:

“After receiving a loan as a company or after receiving repayments as a lender, have you ever wondered how the companies already financed turn out? how your investment helped make a difference not only for the company, but also for the community?” 

While providing a recap of where all the companies are now after financing the growth of their businesses via October, the online lender noted that a French company called Réalités was established in 2003 (active in the real estate sector).

As noted by October, the main business of this company was the development of housing projects and the group “became a real actor of territories development.” The Group released their half-year results mid-January and “announced consolidated annual sales of €200 million, an amount superior to their objective, set in €190 million for 2020,” the October team revealed in their blog post.

They also mentioned that the company “borrowed €2,300,000 in September 2019 to finance works and improve the information systems of its agencies.” The project was “supported by 5,461 lenders,” October noted.

October also noted that a Spanish company called Ballenoil has benefited from October’s services. Established in 1962, the company focuses on car wash centres. Then, they began working on gas stations by providing easy supply and quality fuel at affordable prices, the October team added. During the past few years, the company has experienced “exponential growth across Spain,” October claims.

This year, Ballenoil will “install 20 new service stations, investing 10 million euros with the aim of exceeding 150 service stations in Spain and also, they start a collaboration with Santander bank to create a new payment service by using the ID for pay the refuelling of the car,” the October team noted.

The company “requested a loan of €500,000 in March 2019 to finance their expansion in Spain” and the project was “supported by 2,604 lenders,” October revealed.

(Note: to learn more about the different projects that have worked with October, check here.)

As reported last month, there was a new record for lenders on the October platform with 5,672 private investors from France, Spain, Italy, and the Netherlands lending to the Sandaya Initiative

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