Lendify raised $160M in a financing round supported by Insight Investment.
Lendify, a Stockholm, Sweden-based company providing access to an online credit platform, announced that it secured SEK 1.5 bn ($160M) in capital investment
The funding was backed by London-based asset manager, Insight Investment, which will become the main investor in the company. In addition to the capital equity, Lendify announced that it has also secured credit facilities with Nordea and DNB.
The funding will be used to provide liquidity to its finance lending marketplace.
Lendify, founded in 2014 by John-Christian Eriksson and led by CEO Nicholas Sundén-Cullberg, built an alternative platform offering unsecured loans to creditworthy households in Sweden. Since starting out, the company has managed a total lending of just over SEK 2.2 billion ($230M).