Finstar Financial Group Acquires 51% in Spanish peer-to-peer lending platform, Prestamos Prima
Prestamos Prima has at the same time announced a significant enhancement of its product offering including new features for its European peer-to-peer lending platform, which offers low risk investments in loans supported by mortgages, adding high-yield consumer loans and a ‘Secondary Market’ to the platform.
Finstar already has a strong track record in the financial technology and consumer finance space and has established successful partnerships with fast-growing lenders across Europe. Last year it also launched its own portfolio company, Digital Finance International, with the aim of applying the most advanced technological solutions to deliver tailored consumer lending solutions globally.
Prestamos Prima’s newest product is Viventor, a peer-to-peer investing platform open to investors from all over Europe. All loans listed on the platform are secured by a 60-day Buyback Guarantee, and are 100% pre-funded. The loans are issued by Twinero and Prestamos Prima. Investors can choose from a range of low-risk loans secured by real estate mortgages that generate modest returns, and a variety of newly added short-term consumer loans that have no underlying assets, have comparatively higher levels of risk, generating returns as high as 15% per annum. Investing in Viventor is free, with a minimum deposit of just EUR 50 needed to open an account and you can invest as little as EUR 10 per loan. A ‘Secondary Market’ enables investors to sell their stakes in loans to other investors at a par, premium or discount, and exit their investment positions prematurely.
Andris Rozenbahs, COO of Viventor: “Offering short-term consumer loans on Viventor is a big step forward for us as a company. A considerable number of our investors have expressed their desire to diversify their portfolios across different loan types, seeking higher returns. Twinero is a trusted name that has been operating in Spanish market for years, building up a strong track record. We believe offering short-term loans is a great way of satisfying the demand of our investors.”
“Partnering with Finstar Financial Group is a huge advantage for us in the long term. The Finstar team consists of number of highly experienced professionals in the financial services industry and this expertise will greatly aid Viventor’s development in the rapidly growing space of peer-to-peer financing and beyond.”
Nicholas Jordan, CEO of Finstar Financial Group: “We are excited about our partnership with a peer-to-peer lending platform such as Prestamos Prima’s Viventor. Finstar is always looking for innovative products in the fintech space and Prestamos Prima is a leader in the European market. We are delighted to work with the talented management team to strengthen Viventor, assist with rapid expansion of other projects and the further diversification of its portfolio.”
About Prestamos Prima
Prestamos Prima has been operating in the European non-bank lending and alternative finance market since 2012. The company has gradually developed its portfolio, both in terms of loan volume and product diversity. Having established a leading position in the Spanish market, the group is aiming at international expansion in 2016 and beyond. Viventor has been nominated for the European Fintech Awards 2016.
Read more about Prestamos Prima: http://prestamosprima.com/ and
Source: Finstar Financial Group Press Release