France-based Lendix may have only just scored its first business borrower using its financing platform, but the company has major support from investors for the financing product. The firm announced Friday (March 27) that it has secured about $30 million from backers. According to reports, nearly $3 million of that funding will be used for equity, with the rest being used for SME lending.
“We are very excited to have such a diverse and solid shareholder base,” said Lendix president and founder Olivier Goy. “It demonstrates the interest SME loans have for every type of investor.”
The funding originated from several backers including Decaux Frères Investissements, Banque Wormser Frères, and Sycomore.
Such a significant investment follows just two weeks after Lendix secured its first official business customer to use its SME lending platform. Alain Ducasse Enterprise was revealed to be the company’s first borrower. The financial support could send a loud message of confidence to the small business lending industry.
This year, Lendix said it will aim to secure lending for 200 small- and medium-sized businesses through several hundred millions of dollars in backing. Being positioned in Europe will likely prove to be an advantage for the alternative lender. Recent research revealed Europe’s alternative finance to be the strongest in the world at present, and recent research from the University of Cambridge singled out France as one of Europe’s strongest emerging alternative lending markets.
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