Germany-based digital lending marketplace operator CrossLend has completed a €14m ($16.2m) funding round backed by financial services firms SolarisBank and ABN Amro, the latter through its Digital Impact Fund.
Earlybird Venture Capital, Luxembourg Future Fund (LFF) and Lakestar also participated in the round, the latter two as existing investors.
Founded in 2014, CrossLend runs a digital platform that enables banks or alternative lenders to securitise individual loans into bonds in which other users can invest. It has formed strategic partnerships with both SolarisBank and ABN Amro alongside the funding.
LFF and Promus Ventures invested an undisclosed sum in CrossLend in April 2017, after the company had raised undisclosed sums from CME Ventures, the strategic investment arm of financial exchange operator CME Group, Lakestar, Northzone and Atlantic Labs across multiple rounds.
CrossLend CEO Oliver Schimek said: “We are partnering with precisely the type of investors we need to grow our business further and continue to implement our mission of making the global debt ecosystem more efficient, transparent and profitable.
“Our products help banks to regain profitability while simultaneously helping borrowers to access better financing opportunities.”