Blackmoon Financial Group, a marketplace that enables institutional investors to directly invest in loans issued by balance sheet lenders, secured $2.5m in equity funding.
Backers included Target Global, A&NN Group, Flint Capital, and private investors.
The company intends to use the funds for the further development of its platform and front-end solutions, and expansion of its presence in the U.S. market.
Founded in 2015 by Oleg Seydak and Ilya Perekopsky, CEO, Blackmoon is a tech marketplace that enables institutional investors to directly invest in loans issued by balance sheet lenders. The company’s technology provides online integration with loan originators, as well as loan screening, scoring and pricing modules.
Currently, Blackmoon works with lending institutions in the United States, Russia, Finland, Latvia, Estonia, Poland, the Czech Republic, Slovakia and Georgia making money by charging investors for getting access to loans that cannot be found on other platforms.
According to its own data, monthly transaction volume has grown by a multiple of 2.5 since June 2016 and exceeded $5 million in September 2016.
Looking forward, it plans to provide marketplace solution for banks in early 2017 and apply for a broker/dealer license in U.S. in the second half of 2017.
Blackmoon has offices in New York, Limassol, Cyprus, and Moscow, Russia.