Flen­der raises €2.1m to fund ex­pan­sion

Irish Independent - Business Week - - FRONT PAGE -

PEER-TO-PEER lender Flen­der has com­pleted the fi­nal part of a €2.1m fundrais­ing round, made up of €375,000 from En­ter­prise Ire­land.

The busi­ness, which counts for­mer Ir­ish rugby star Jamie Heaslip as a brand am­bas­sador, raised some of the money via its own plat­form in what is thought to be the first eq­uity crowd­fund­ing on an Ir­ish plat­form.

The money will be used to lift head­count and scale the busi­ness.

It has wel­comed plans to reg­u­late crowd­fund­ing an­nounced in the re­cent Bud­get.

CEO Krist­jan Koik said the peer-to-peer sec­tor had been lob­by­ing the Gov­ern­ment for reg­u­la­tion for some time.

In his Bud­get-day speech ear­lier this month

Fi­nance Min­is­ter

Paschal Dono­hoe said: “Avail­abil­ity of credit is a key con­sid­er­a­tion for all busi­nesses ... with ap­pro­pri­ate reg­u­la­tion, I be­lieve that crowd­fund­ing can play an im­por­tant role in broad­en­ing com­pe­ti­tion in the SME fi­nance mar­ket.”

Jamie Heaslip

Newspapers in English

Newspapers from Ireland

© PressReader. All rights reserved.