PEER-TO-PEER investor BondMason has raised £1.85m in an equity funding round to drive the growth of the business.
The company, which invests in selected P2P loans across approved platforms on an investor’s behalf, has received funding from private investors as well as Enterprise Investment Scheme managers Seneca Partners and Par Equity.
Stephen Findlay (pictured), chief executive of BondMason, said the funding round would enable the firm to improve its service through the launch of new products, including a suite of fixed-term bonds and an Innovative Finance ISA later this year.
There will also be an enhanced user experience of the platform, improved client dashboard functionality, and development of the pension service alongside both current and new partners.
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“We’ve received significant interest from both new and existing shareholders for this fundraising, which represents a strong endorsement of our business strategy,” Findlay said.
“The round was oversubscribed by 50 per cent. The growth of BondMason has trebled over the last 12 months – with a strong focus on client service, we look forward to taking this momentum forward. We will expand our product offering to enable clients to achieve a broader selection of attractive risk-adjusted returns, during these low interest times.”
Since 2015, BondMason has invested £35m across 6,000 lending opportunities, resulting in average gross returns of eight per cent a year for clients.
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