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LONDON (Alliance News) - Peer-to-peer lender VPC Specialty Lending Investments PLC on Monday said its investment manager has signed a new deal with an existing partner and has secured new deals with two further platforms.
VPC said Victory Park Capital Advisors LLC has entered into a new deal with Avant Inc, a Chicago-based consumer credit platform, to be the largest institutional buyer of marketplace loans on the Avant Institutional Marketplace. VPC is participating in the marketplace facility.
Victory Park also has agreed a deal with San Francisco-based peer-to-peer consumer lending platform Prosper Marketplace Inc to buy marketplace loans over the next two years, and has signed a deal with Arlington, Virginia-based lending platform The Credit Junction Inc to provide a USD50 million senior secured loan and USD2 million in senior secured convertible notes.
No financial details were provided on the Avant deal or the Prosper Marketplace agreement.
VPC shares were down 0.3% to 101.50 pence on Monday morning.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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