Lendify gets SEK 111.5M in a fresh investment round for its marketplace lending platform.

Lendify, a Stockholm, Sweden-based company operating a marketplace online credit platform, announced in a press release closing a SEK 111.5M ($14M) investment round.

The money comes from new and existing investors and values the company at SEK 650M ($80M), pre-money.

The funding will be used for technical development and as equity in future bond issues. In October 2017, the company closed a SEK 100M debt funding round via a bond issue on its platform, which followed a similar SEK 200M round made in May 2017.

Lendify, founded in 2014 by John-Christian Eriksson and led by CEO Nicholas Sundén-Cullberg, developed and operates a marketplace online credit platform that enables people to borrow money and lend money from each other – without the involvement of banks. By cutting out the middle men and bypassing many of the traditional banking costs Lendify is able to provide attractive rates for both borrowers and for investors.

Prior to this deal, Lendify raised more than $13M in funding from a range of local investors including Inbox Capital and Back in Black. In 2017, the company also received a strategic investment from GSB Investco AB, a company owned by Martin Gren, the founder of Axis Communication. Axis is a Swedish manufacturer of network cameras for the physical security and video surveillance industries.