Dublin based peer-to-peer lender Linked Finance has raised a £1.8m funding round led by Frontline Ventures.
Linked Finance said the proceeds from the fundraising will be used to boost its sales and marketing activity, with a wider strategic aim of raising awareness of P2P lending and attracting a wider audience of Irish business borrowers. The firm, which recently hired former Ryanair deputy chief executive Michael Cawley as its chairman, was launched in early 2013. Since then, it has lent over €34.5m to small- and medium-sized enterprises, with more than €14.2m already repaid to lenders. “It is fantastic that we have been able to practice what we preach, harnessing the power of the crowd to open this investment round to some of our most active users,” said chief executive Niall Dorrian.