TrustBuddy acquires UK company aiming to open UK P2P lending by end of 2014
TrustBuddy is proud to announce the purchase of a United Kingdom based financial services company with interim permission under the new regulation by the FCA. The acquisition was finalized last week. The purchase only includes the company itself and no current business, and thus the capital amount for the company is kept below £100,000.
TrustBuddy will hire key staff in the coming months in order to enable a market entry by year-end (including both short and long term P2P lending). UK is Europe’s most important P2P market as it has developed a unique P2P legislation that TrustBuddy supports. TrustBuddy expects the UK to become the group’s largest market by mid-year 2015.
The UK is a perfectly suitable market for TrustBuddy's progression as it has a good legal system including a brand new P2P regulation, great credit check opportunities, well established and educated P2P-market, huge lending capital potential and the recently added opportunity for private P2P-based pension investments to be under the ISA structure.
Sebastian Hagman, CIO of TrustBuddy, has been based in London since September 2013. “A UK market entry has been a focus for TrustBuddy as it is the most established P2P market in Europe and the new P2P regulation is a great step forward for the whole P2P industry. We hope that many other European countries will follow UK’s path and create their own P2P regulations. The opportunities TrustBuddy have in the UK for both short and long term lending are substantial.”
For more information, please contact:
Jens Glasø, CEO, TrustBuddy International AB (publ)
Tel: +47 40 40 47 50,
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 is TrustBuddy International AB (publ)'s Certified Adviser and market maker, phone number: +46 8-503 015 50.