Varengold Bank AG joins Assetz Capital loan funding platform
In a further expansion of its institutional relationships, Assetz Capital has partnered with Varengold Bank AG to provide funding, alongside its retail investors, to UK SME borrowers through the Assetz Capital platform.
Varengold is a German private bank which is active in deploying funds through marketplace lending platforms across Europe.
The partnership with Varengold brings additional institutional funding to further support the strong growth in lending by Assetz Capital and further broadens the sources of funding available to the leading peer-to-peer business lender. This is the latest in a string of institutional funding partnerships and further bolsters Assetz Capital’s funding lines for the support of the SME business sector as the UK comes through the Brexit process and beyond.
Stuart Law, pictured, CEO, Assetz Capital, said:
“This new institutional funding relationship further enhances the potential scale of our lending to the businesses that we support. Also, having a bank funding loans through us using their balance sheet is strong testament to the robustness of our lending operations and the increasing role that alternative lenders, such as ourselves, have in serving the funding requirements of UK SMEs. We will continue to grow the number of institutions for whom we originate loan investments.”
Alison Harwood, Head of London Branch at Varengold Bank, said:
“As an established, fast growing, marketplace lender Assetz Capital offers the opportunity for us to build a well-diversified portfolio of property-secured loans. Assetz Capital’s focus on all of the regions of the UK is also an attraction.”