Flender raises €2.1m to fund expansion
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
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.”