CrossLend, a Berlin, Germany-based fintech company, received an investment from the LFF (Luxembourg Future Fund) and US-based Fund Promus Ventures.
The amount of the deal, which follows a recent investment raised by Lakestar and CME Ventures, was not disclosed.
Led by Oliver Schimek, CrossLend intermediates loans and securitizes them into bonds (via a Luxembourg securitization vehicle) in which investors can invest via the platform. In this way, the company, authorized and regulated by the CSSF, allows lending banks and alternative lenders to partially offload loans on a single loan basis.
CrossLend is currently active in Germany, Spain, the UK and the Netherlands.
In addition to the LFF, Promus, CME Ventures and Lakestar, the company is financed by several other venture capital firms including Northzone and Atlantic Labs and and business angels.