Debitum Community has introduced that Flexidea Polska, a subsidiary of its originator Flexidea, has launched a €292,000 (£251,350) asset-backed securities (ABS) program.
The European peer-to-peer lending market stated that there’s €261,000 obtainable for funding in this system, which includes 43 small- and medium-sized enterprise loans.
The ABS program has a time period of six months and gives annual returns of 11.25 per cent.
Learn extra: Debitum Community sees increased inflows in Might
The loans in this system are secured with invoices from Polish and worldwide corporations. In addition they have a buyback obligation and a Flexidea group assure.
There’s a 10 per cent penalty price for debtors, in case of late reimbursement.
Debitum stated that funding fund Helenos lately acquired a 14.67 per cent stake in Flexida, with the purpose of increasing its actions into different EU international locations. Its subsidiary Flexidea Polska subsequently began operations in Poland and Debitum stated that the corporate “reveals spectacular progress outcomes”.
“The whole quantity of invoices financed within the first 12 months has reached €10.5m (£8.6m) (zł43.23m and €0.82m) with a median financed bill quantity of €7,300 (financed 1,450 invoices). The present excellent portfolio is €2m,” stated Sergei Demchuk, chairman of the Supervisory Board at Flexidea.
Learn extra: Debitum sees common rate of interest rise once more in June
“What’s much more vital – in July 2023 Flexidea Polska reached a break-even level in its operations.”
Debitum chief govt Henrijs Jansons heralded the efficiency of Flexidea Polska, including that “the success and progress of Debitum enterprise companions’ is a basis for safe but additionally high-yielding investments of our buyers”.
“The subsequent funding spherical from Flexidea Polska is open, subsequently I invite Debitum buyers to hitch Flexidea progress story and profit from it,” he added.
Flexidea is getting ready to launch a subsidiary in Romania by the tip of the 12 months.
Learn extra: Debitum Community companions with Romanian lender