Blackmoon launches in the US to match investors with balance-sheet lenders. The Russian marketplace lending as a service platform is designed to help institutional investors access non-bank balance sheet loans.
Blackmoon has built a financial platform that enables institutional investors to invest in on-balance sheet loans. This enables originators to offer loans to third parties without going through a complex sales process. Instead of building marketplace infrastructure, investors can integrate their existing backend with the Blackmoon API. Over 70,000 loans have been purchased through the Blackmoon marketplace from eight originators in seven countries. The company ambitiously wants to hit $1 billion in brokered loans over the next year. Most of the online lenders Blackmoon has worked with are European online lenders processing alternative loans. Blackmoon has implemented a proprietary series of algorithms to evaluate and price loans. The company facilitates the communication of lending data between originators and investors.