France-based Lendix has secured a $13.5 million investment in its Series B funding round, led by CNP Assurances, it announced Tuesday (April 26).
The company said its new capital will be used towards an expansion into Spain and Italy, as well as increasing its range of available products.
Olivier Goy, founder and president of Lendix, said:
“We’re delighted to welcome such prominent investors; their partnership with Lendix is a strong expression of trust in our ambition to revolutionize SME lending. We have many streams of collaboration with them in France, Spain and Italy, which will benefit our lenders and our borrowers.”
According to the company, the market is experiencing rapid growth, and the latest funding round will assist it in becoming a “leader in Continental Europe.”
“This first investment in the FinTech sector is based on our confidence in Lendix’s ability to expand its leading position in France but also in other markets in Continental Europe,” Hélène Falchier, head of private equity investments at CNP Assurances, explained.
The press release noted that Falchier will also join Lendix’s board.
Last year, Lendix announced it secured about $30 million from backers just two weeks after it secured its first official business customer to use its SME lending platform.
As Lendix works to maintain its momentum in the alternative lending space, recent research revealed Europe’s alternative finance market 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.