SaveLend Group has expanded its funding agreement with NordIX, whereby the German fixed-income specialist will fund an additional MSEK 115 (£8.3m) of SaveLend’s Swedish consumer loans this year.
SaveLend Group is a fintech company based in Sweden and Finland, which owns the peer-to-peer lending platform SaveLend and the billing platform Billecta.
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NordIX is a Hamburg based fixed-income specialist that manages several mutual funds and segregated funds, and develops investment solutions for institutional investors. In April 2021, NordIX launched its European Consumer Credit Fund to invest in consumer loans generated through marketplace lending platforms.
SaveLend Group initiated its partnership with NordIX in June 2022 with an initial investment of MSEK 50, that has nearly quadrupled since then.
“We have been investing with SaveLend for several years and remain highly satisfied with the stable, risk-adjusted returns provided through their platform,” said Claus Tumbrägel, chief executive of NordIX.
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“Increasing our investment in Swedish consumer loans is a natural step for us, as we continue to see potential in this asset class.”
Peter Balod, chief executive of SaveLend Group, said: “The decision by NordIX to further increase their investment with us is a strong testament to the reliability of our product. We are grateful for their continued trust and look forward to further scaling up our collaboration in the future.”
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