13 Apr 2015 07:00
13 April 2015
GLI Finance Limited invests €445,500 in MytripleA, Spain's first online regulated P2P lending platform
GLI Finance Limited ("GLI"), a specialist provider of finance to small and medium-sized enterprises ("SMEs"), announces that it has agreed to invest €445,500 in MytripleA, as the lead investor in a €1 million equity financing. MytripleA is the first fully regulated Spanish peer to peer lending platform that facilitates the provision of alternative financing for Spanish SMEs. In return for the consideration GLI will receive a 9.9% equity stake in MytripleA. GLI has also committed to sourcing funding for €10 million of loans made through MytripleA, while other private investors have committed a further €4 million for the same purpose. Geoff Miller will also be appointed to the Board.
Geoff Miller, Chief Executive of GLI, said: "This investment is a perfect fit with our strategy of focusing on unique platforms which provide capital to SMEs. It also enables us to expand our portfolio into Spain, which we see as a particularly attractive market due to its rigorous risk controls and robust regulatory approach. We believe that, having obtained full approval from the Bank of Spain to operate a peer to peer platform, MytripleA is uniquely placed to originate loans in Spain with an excellent risk-adjusted return profile."
Jorge Anton, Chief Executive of MytripleA, said: "There is a huge demand for alternative financing for SMEs in Spain. MytripleA has developed robust risk controls and an efficient technology to disrupt the Spanish alternative lending market. The equity financing will be used to scale up data and product operations, increase marketing efforts and recruit staff. We are very pleased to be joining the GLI family and welcome them as a significant investor. We believe that the experience of the GLI management team will be hugely valuable as we work towards MytripleA's goal of becoming a leading Spanish peer to peer lender."
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Notes to editors
GLI Finance Limited
GLI Finance (www.glifinance.com) is a specialist provider of finance to small and medium sized enterprises and is quoted on the AIM market of the London Stock Exchange (ticker GLIF). GLI Finance both invests in loans to SMEs and originates finance for SMEs through a variety of finance platforms.
The platforms in which GLI Finance is invested vary by geography, industry, size of lending and by type of lending. They include Global trade Finance, UK and US SME Lending, Offshore Lending, UK invoice discounting, European invoice discounting, Global multi-asset crowd funding and UK property-backed lending.
MytripleA (www.mytriplea.com)
MytripleA in Spain's first online regulated P2P lending platform that facilitates alternative financing transaction between SMEs and lending investors. The platform offers investors an excellent risk-adjusted return profile and SMEs a flexible alternative financing source.
For further information, please contact:
GLI Finance Limited
Geoffrey Miller
+1 203 916 0003
+44 7408 830719
Ed Gascoigne-Pees / Hazel Stevenson (Camarco)
+44 (0)203 757 4984 / 4989
MytripleA
Jorge Anton
+34666124910
jorgeanton@mytriplea.com