Harmoney, a New Zealand-based peer-to-peer lending marketplace backed by e-commerce platform Trade Me, closed $200m in debt and equity financing on Thursday.
The round was led by led by P2P Global Investments (P2PGI), a fund managed by Eaglewood Europe, itself a subsidiary of alternative asset manager Marshall Wace. It valued Harmoney at $100m and was closed alongside an agreement with P2PGI to supply up to $200m in lending capital to Harmoney over the next three years.
Harmoney operates a marketplace that links investors with creditworthy borrowers. It has facilitated $100m of loans since the platform was launched in September 2014.
The round follows a $10m series A round closed in January this year at a $55m valuation, in which Trade Me paid $7.7m for a 15% stake in Harmoney. That round also included financial services firm Heartland New Zealand, which backed Harmoney at seed stage.
Neil Roberts, CEO of Harmoney, said: “P2PGI has been an institutional investor on the Harmoney marketplace since early 2015.
“Their equity investment in the company aligns the two parties even closer. P2PGI is one of the world’s largest dedicated P2P marketplace funds and we join an exclusive list of the world’s leading platforms that P2PGI has selected to invest in.”