Did you miss a session from the Future of Work Summit? Head over to our Future of Work Summit on-demand library to stream.
Blackmoon’s platform allows institutional investors to invest directly in loads issues by balance-sheet lenders. It currently works with lenders in the U.S., Russia, Finland, and several other countries around Europe. The new funds will be used to expand deeper into the U.S. – by applying for a broker/dealer license in 2017 – and continue the development of its platform.
This platform, which describes itself as a competitor to Lending Club, enables greater transparency, said CEO Oleg Seydak, who tips the global market to be in the hundreds of billions. Blackmoon’s business model involves charging investors for access to loans that it says are not available on other services.
“[U]nlike other players, we’re not trying to replace banks; we want to give them and other balance-sheet lenders a unique tool to improve efficiency and risk management,” commented Seydak.
“The proposed solution can freely scale both geographically and through the product segments, providing new opportunities for lending institutions and owners of capital,” added Mikhail Lobanov, partner at Target Global.
You can subscribe to Tech.eu’s newsletter here.
VentureBeatVentureBeat's mission is to be a digital town square for technical decision-makers to gain knowledge about transformative technology and transact. Our site delivers essential information on data technologies and strategies to guide you as you lead your organizations. We invite you to become a member of our community, to access:
- up-to-date information on the subjects of interest to you
- our newsletters
- gated thought-leader content and discounted access to our prized events, such as Transform 2021: Learn More
- networking features, and more