TrustBuddy: TrustBuddy acquires Dutch Peer-to-Peer lender company Geldvoorelkaar
TrustBuddy has entered into an agreement to acquire Dutch Geldvoorelkaar, a leading SME Peer-to-Peer (P2P) lender, for a total of EUR 10.6 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.
– Geldvoorelkaar is the largest Dutch SME crowdfunding company, which opens up European SME market opportunities to TrustBuddy. There is a huge demand of SME company-lending in the region, and some markets are literally untapped when it comes to disintermediation of SME financing. Geldvoorelkaar has been fully operational since 2012 and a market share of 60-65 percent and is thus well positioned to capitalise on the market potential. Geldvoorelkaar offers a full, professional and accepted alternative way of financing small and medium sized businesses.
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.
Stockholm, 13 November 2014
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.