17 October 2017
visit www.response.ncr.com

Russian lending startup SimpleFinance wins investment from SBI fintech fund

18 September 2017  |  2716 views  |  0 Source: SimpleFinance

SF Holdings Company Plc, parent of MCC SimpleFinance LLC (“SimpleFinance” or the “Company”), a Russian fintech company providing accessible lending to small and medium-sized business, has completed its debut equity fundraising, with an investment from the SBI FinTech Business Innovation Fund LPS (the “SBI FinTech Fund” or the “Fund”).

The Fund, part of SBI Investments, is a JPY 30 billion (USD 271 million) fund that was launched in June 2016 to invest in promising venture companies in the FinTech field. SBI Investment is the core company in the SBI Group's Asset Management Business. It is one of Japan's leading venture capital firms. Since establishment, SBI Investment has focused on investments on growth sectors such as Fintech, information technology, biotechnology and life science.

This debut round of equity fundraising comes less than three months after SimpleFinance successfully priced its debut Eurobond issue of USD 30 million, with a 3-year tenor and a coupon rate of 10.5% per annum.

SimpleFinance CEO Alexey Basenko said:
“We are very pleased to announce completion of our debut equity fundraising, which also marks the first time that any Russian FinTech company has attracted a well-known international investor in the sector. SimpleFinance intends to use the funds for new loan issuance to continue growing its lending portfolio, which has expanded by 110% since 1 January 2017.”

SBI FinTech Fund will gain a seat on the Board of Directors of SimpleFinance, and participate in guiding the Company’s further strategic development.

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.temenos.comRegister now

Top topics

Most viewed Most shared
Ripple looks to drive bank adoption with $300m XRP rebate programmeRipple looks to drive bank adoption with $...
15020 views comments | 12 tweets | 4 linkedin
Swift positive on blockchain, but big challenges remainSwift positive on blockchain, but big chal...
8261 views comments | 15 tweets | 21 linkedin
hands typing furiouslyHow artificial intelligence can deliver a...
7716 views 0 | 7 tweets | 9 linkedin
satelliteGates Foundation backs Ripple collaboratio...
7082 views comments | 13 tweets | 8 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
6270 views comments | 8 tweets | 16 linkedin

Featured job

Competitive base, double ote, benefits
London, UK

Find your next job