Lendable and Credit Suisse launches fund to support consumer loans

LENDABLE has set up a fund with Credit Suisse through its platform and other financial suppliers to invest in consumer loans.

For a three-year investment period, the Luxembourg-based credit opportunities fund has raised capital from 10 investors across seven geographies and will initially fund £225m.

With plans to raise £350m by the end of 2020, the first commitments will be worth £150m by the beginning of next year.

With a minimum of £2m, the fund is accessible to professional investors.

“We’re delighted to launch our first fund and announce the new partnership with Credit Suisse, ”Rory McHugh, the chief capital officer at Lendable, said.

“This fund lets professional investors access the same investment opportunity currently available only to the largest institutional investors.

“We also look forward to meeting with other fintech and consumer credit platforms seeking debt finance as we grow the asset management side of this business.”

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