BorsadelCredito.it, a Milan, Italy-based fintech startup, raised €1.6m in funding.
The round was led by P101 Ventures, with participation from Azimut Enterprises Holding, GC Holding, Banca Popolare di Fondi and private investors.
The company intends to use the funds to continue to expand its growth plans, including Colombo, its just launched credit fund, invest in tech, human resources and its partnership network, as well as in the supply of credit and saving products.
Founded in October 2013 by Ivan Pellegrini, BorsadelCredito.it is a SME peer to peer lending company which has made over 360 loans with over €18.5m funded and 2,000 active lenders.
In October 2017, it launched Colombo, a credit fund dedicated to SMEs and micro business, which aims to become the largest direct lending platform in Italy.
BorsadelCredito.it is operated by Business Innovation Lab S.p.A.