Bitbond Receives €5M in Debt Financing; Raises Undisclosed Equity Funding

Obotritia Capital provided a €5m debt financing and made an equity investment in Bitbond, a Berlin, Germany-based Bitcoin based SME marketplace lender.

The company will use the proceeds:
– from the debt financing to fund loans through its platform, and
– from equity investment to increase its product development and marketing efforts.

Led by Radoslav Albrecht, Founder & CEO, Bitbond provides a global marketplace lending platform for small business loans which leverage blockchain technology to connect creditworthy borrowers with individual and institutional investors.
All payment transactions on Bitbond are conducted via the bitcoin blockchain.
In order to score borrowers who are not covered by conventional credit bureaus, the company uses alternative data for credit scoring. This includes transactions of small business owners from accounts like eBay, Amazon, Etsy, MercadoLibre, Shopify, PayPal, bank accounts and many others. The data gets evaluated with our proprietary machine learning algorithm.
Investors on Bitbond can either pick the loans to fund manually or use the AutoInvest tool, which lets them create a diversified portfolio of loans according to preferences in an automated way.

Key stats to date include:
– 90,000+ users
– 1,700+ funded loans, and
– $1,400,000+ in loan volume.



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