Marginalen Bank acquires 30% of Toborrow, invests SEK 15.6m together with existing investor NFT.

Toborrow, a Stockholm, Sweden-based company providing peer-to-peer lending services, announced selling 30% of the company to Marginalen Bank.

The transaction comes as a SEK 15.6M ($1.9M) investment Marginalen and existing investor NFT Ventures placed into Toborrow and the strategic goal is providing the company with increasing access to capital for loans to small and medium enterprises.

Toborrow, founded in 2013 and led by CEO Sofie Lundström, has developed an online marketplace that aggregates consumer savings, connecting it to small and medium sized businesses in need of financing.

Prior to this transaction, the company raised about $3M in outside capital from investors such as NFT Ventures.