COFIDES, the Spanish company that provides medium and long term financial support for viable private direct investment projects located in foreign countries, has extended a €500,000 joint-venture loan to the British subsidiary of the Catalonian Group Equity Point.
The €2m project developed by Equity Point in UK consists on the establishment and management of a new hostel in London, which will provide accommodation for 400 people and it is estimated that 20 employees will be working for it.
Equity Point Holding Empresarial S.L., parent company of the Equity Point Group, was established in 2004 in Barcelona. to manage youth hostels both in Spain and abroad. The Group Apart provides accommodation in Barcelona (3), Gerona, Madrid, London and Marrakech.
COFIDES provides the loan as manager of FONPYME, a venture capital and quasi capital fund focused on international projects developed by SMEs.