Two firms considering purchase of Trillion Fund technology
TWO companies are considering purchasing the assets and infrastructure of renewable energy peer-to-peer loans provider Trillion Fund.
The platform’s technology was put up for sale in March 2017 and chief executive Theresa Burton said 25 parties have shown an interest in the past 12 months and there are now two businesses considering a purchase.
“We are still in discussions with two companies who would be buying our technology as a route to entering the P2P space”, Burton told Peer2Peer Finance News.
“They are still deciding about whether to enter the market so we are just one component in that thought process.”
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She said other potential buyers had either decided against entering the market or had opted to use external software instead.
Trillion Fund stopped offering loans for P2P projects in 2015 after government renewable energy subsidies were cut.
It launched Your Brand Crowdfunding in 2016 to allow companies to run fundraising campaigns on their own website, but Burton said there had not been enough take-up.
The platform, which holds full regulatory permissions while it is being wound down, has 600 lenders and a loan book of £3m that will close with a final repayment due in April 2018.
If purchased, she hopes to stay on initially to help with a handover before stepping down. If there is no sale, the company will close once the final loan is repaid.
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