TrustBuddy: TrustBuddy acquires Italian Peer-to-Peer lender company Prestiamoci
TrustBuddy has entered into an agreement to acquire Italian Prestiamoci, a leading long-term Peer-to-Peer (P2P) lender, for a total of EUR 5.3 million in order to strengthen its offering of business loans to small and medium-sized enterprises and consumer credit in most European countries.
– The acquisition is in accordance with TrustBuddy’s long term strategy of being a diversified P2P operator, says TrustBuddy CEO Jens Glasø.
– Prestiamoci fits perfectly with the TrustBuddy portfolio and is a springboard to sizable and difficult-to-enter markets. Prestiamoci will also help product acceleration and revenue growth by offering a longer dated consumer loan product that further diversifies TrustBuddy’s product offering.
Prestiamoci’s innovative lending platform is built on the company’s vast experience within credit risk assessments in Italy. Going forward, Prestiamoci’s seasoned management team will join the TrustBuddy Group management. The Prestiamoci offer is conditional upon completion of a successful due diligence.
Further details of the transaction are included in a separate announcement released today by TrustBuddy.
TrustBuddy was established in Stockholm in 2009 and the first business to facilitate P2P lending in Scandinavia. Listed on NASDAQ OMX First North, TrustBuddy is the only publicly traded P2P company in the world. It has close to 100 employees, facilitated over SEK 1 billion in short term consumer loans and is operational in 9 European countries.
For additional 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. Erik Penser Bankaktiebolag is TrustBuddy International AB (publ)'s Certified Adviser, phone number: +46 8 463 80 00.