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The Paris based P2P SMB lender will use the amount to expand into additional European markets, including Spain and Italy in the coming months.
Investors included CNP Assurances, Matmut, Zencap AM, Partech Ventures, Decaux Freres, Sycomore Factory and Weber Investissement.
But the startup has taken over the French market by storm. During its first year, the platform has managed $22.5 million (€20 million) in medium-term business loans. Typically, Lendix manages loans for small and medium companies for 3 to 6 years with annual returns between 4 and 9 percent for the lenders. But now that Lendix has acquired its smaller competitor, the company will be able to manage short term loans as well as this is where Finsquare shined before the acquisition.
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