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Launched in late 2013 and based in Barcelona and Madrid, LoanBook is Spain’s leading marketplace lending platform, offering working capital loans of up to €200k to Spanish SMEs. With near a 40% market share, LoanBook has lent nearly €40m to date and has doubled its volumes in each of the last 3 years.
- Spanish incorporated company with offices in Barcelona and Madrid
- 20 multidisciplinary professionals with investment and finance focus
- Backed by local Angels and Family Offices in multiple equity rounds
- Institutional investors are increasingly active as lenders
Loanbook has received £340,000 of investment from current shareholders, local Business Angels and Family Offices. This investment is included in the progress bar.
Idea
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The market
:max_bytes(50000)/https://files-crowdcube-com.s3.amazonaws.com/files/opportunity_section_media/original/201712/8ab3376c1d484d1767dd6b236667d24a.jpg "Institutional investors are increasingly active as lenders")
Institutional investors are increasingly active as lenders
We are Spain’s largest marketplace lending platform, with a 4-year track record of working capital lending to Spanish SMEs and ~40% market share.
The SME finance market in Spain is large, with over €10bn/month lent to Spanish SMEs. Well over 90% of this lending comes from Spanish banks, which have not yet recovered from the global financial crisis and are suffering from a failure to modernise in the years prior to the crisis. They are weighed down by unwieldy infrastructure, legacy systems, regulatory change and an outdated culture; and are more focused on repairing their balance sheets and restoring profitability, than on providing a high-quality service to their customers.
We have chosen to focus on short-term working capital loans (typically 3-12 months) as this is the product SMEs most value. It’s where we see the best risk/return for our investors – who also value the liquidity which S/T lending offers – and because the business processes involved in S/T lending can be almost entirely automated, allowing us to drive down costs and scale our business efficiently.
We have financed ~€40m of loans since launch and have doubled our volumes in each of the last 3 years,whilst achieving annual net returns of 5%+ for the investors. We have every confidence in maintaining that growth and performance in the future.
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