LendingCrowd in £18m deal to back SMEs

Published: 22 May 2019

Edinburgh-based fintech platform LendingCrowd has agreed a deal with the Scottish Investment Bank and Dutch bank NIBC to provide more than £18m funding to small and medium sized business.

The Edinburgh based fintech lending partner along with SIB , the investment arm of Scottish Enterprise, and the Netherlands-based entrepreneurial bank, said the ‘transformational deal’ will offer £18.75 million to help grow businesses across Scotland and the UK.

LendingCrowd will help even more companies fulfil their ambitions...

Stuart Lunn, Founder and CEO , LendingCrowd

 

LendingCrowd provides funding to almost all sectors, and a few of the companies to have benefitted from the platform's loans include Summerhall Distillery, producer of Pickering's Gin, Tag Games and Umega Lettings.

Kerry Sharp, director of the Scottish Investment Bank, said the deal continues its efforts to stimulate the Scottish market for alternative and innovative forms of finance.

LendingCrowd was founded in Edinburgh in 2014 and matches investors looking for a greater return with small businesses seeking finance to grow. It has facilitated more than 660 loans to SMEs across the UK, totalling more than £57 million...

Full story via Insider News

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