BorsadelCredito.it, a Milan, Italy-based online SME lending marketlpace, raised €1m in venture capital funding.
Venture capital firm Programma 101 (P101) made the investment.
The company intends to use the funds to continue to develop the service and the business domestically.
Founded in October 2013 as a digital brokerage platform and led by Ivan Pellegrini, CEO, and Antonio Lafiosca, COO, Borsadelcredito.it recently received (via Mo.Net S.p.a.) the licence to operate as a payment institution from Banca d’Italia, the Italian central bank and opened the P2P lending business platform that allows SMEs from industries such as services, manufacturing, retail, construction, etc., to borrow money within 3 working days.
Launched in October 2015, the P2P lending business platform has provided approx. €450k via 38 loans with a 5,03% average interest rate.