TrustBuddy approaching organic growth limits; seeking SEK 400 million in additional funding reserves
Stockholm, 2013-08-20 12:39 CEST (GLOBE NEWSWIRE) --
The stronger than anticipated growth in volumes in TrustBuddy is continuing in an accelerating trend, leaving TrustBuddy with the options to either limits the lending volumes or increasing its funding base. Meanwhile TrustBuddy is subject of steadily increasing international interest from investors for larger investments.
By allowing non-organic capital TrustBuddy will be able to sufficiently sustain a significant yearly average volume up to SEK 2 Billion, without reducing the recorded key factor of gross revenue level of 10%+ of at all time lent out yearly volume.
TrustBuddy has grown by several hundred percent every year since its foundation, and organic growth alone indicates lent out volume is going into billions as soon as 2014. With both organic and non-organic growth focus, the company has had to organize non-organic funding in several portions, and the latest step in this process is the current funding allocation of SEK 400-500 million. New funding portions may also be expected in the future.
TrustBuddy has since 2010 delivered a minimum of 12% return on invested funds, which includes the very low loss percentage (less than 3% on average for four consecutive years). TrustBuddy has been the target of much attention since the LendingClub announcement of new investors including Google, which has hugely increased the focus on P2P lenders worldwide. TrustBuddy is currently the world's largest P2P lender, with more than 17,000 issued loans per month. In comparison, LendingClub (the second largest) issues around 11,000 loans per month.
For further information, please contact:
Jens Glasø, CEO, TrustBuddy International AB (publ)
+47 40 40 47 50, email@example.com
About TrustBuddy International AB (publ)
TrustBuddy International AB (publ) is one of the first in the world to focus on arranging loans and capital provision between buddies in Scandinavia in an organised manner. The company is listed at NASDAQ OMX First North in Stockholm. Mangold Fondkommission AB is TrustBuddy International AB (publ):s Certified Adviser and market maker, contact number: +46 8-503 015 50