The story of mergers and acquisitions in the financial technology (FinTech) sector has, as they say, “legs”. Yesterday we brought you news of a survey predicting much corporate activity in FinTech, and today sees the finalisation of an important deal the market already knew about. It’s symptomatic of the fast-growing, rapidly changing and very exciting sector in which Money&Co., as a peer-to-peer (P2P) online business lender, operates. We leave the telling of the tale to our friends at P2P Finance News.
“POLLEN Street Capital has completed its acquisition of a controlling stake in MW Eaglewood, creating one of Europe’s biggest alternative finance-focused investment managers.
“The deal, first announced in May, sees Honeycomb Investment Trust manager Pollen Street become the majority shareholder of the combined group, which has assets of around £2bn.
MW Eaglewood, which manages the fund P2P Global Investments (P2PGI), has been renamed PSC Eaglewood.
“P2PGI said the merger “combines the global reach, infrastructure and specialist platform knowledge of PSC Eaglewood with the relationships, track record and industry expertise of Pollen Street”.
“It previously stated that the portfolio will have greater exposure to sterling denominated assets and maintain exposure to a tighter group of marketplace lending platforms.”
As we write this article the two current loan offerings stand as follows; The A-rated GBP 300,000 telephony-company loan of 60 months duration with an indicative interest rate of 8 per cent is 47 per cent subscribed. The A-rated GBP 50,000 36-month loan offered with a fixed interest rate of 8 per cent is 74 per cent subscribed.
Money&Co. brings individuals looking to get good return on capital with carefully vetted small businesses seeking funds to grow. In addition to new loan offerings, our secondary loan market, offering existing loans for sale by lenders, is available to registered Money&Co. users.
All loans can be held, tax-free, in an Innovative Finance Individual Savings Account, or Innovative Finance ISA.
Risk: Security, Access, Yield
Do consider not just the return, but the security and the ease of access to your investment.We write regularly about these three key factors. Here’s an earlier article on security, access and yield.
If you haven’t made a loan via Money&Co. before, please read the risk warnings and the FAQ section. You may also wish to consult a financial adviser before making an investment. Capital is at risk, once loaned.