Belgian peer-to-peer lender Mozzeno has raised €3m (£2.76m) from existing and new shareholders to boost its consumer and business lending platform.
The funds will be used to boost its marketing and offer its lending technology to other firms.
Backers include existing shareholder the Wallonia Innovation and Growth investment fund and insurer Federale.
“Federale is a mutual cooperative insurer, and that specific structure was what sealed the deal for Mozzeno,” Frédéric Dujeux, a co-founder of Mozzeno, said.
“With this cooperation, we welcome a major new shareholder who brings in experience and solid credibility in both investment and lending businesses.
“Federale’s positioning is perfectly aligned with mozzeno’s collaborative model.”
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The platform has granted 2,000 loans worth €15m since launch in 2017.
“Mozzeno is ready to step up as a major Belgian player in the area of digital lending,” Xavier Laoureux, co-founder of Mozzeno, said.
“The newly raised funds will enable us to target an even greater audience.
“Now we can take serious steps to increase our brand awareness.
“In recent months we have significantly improved our IT systems and user experience.
“Borrowers applying for a credit on our platform can link their bank accounts, a development that will make it much easier for them to prove their income and expenses.”
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