Banco BNI Europa Invests in Portuguese Peer-to-Peer Platform Raize

Banco BNI Europa Invests in Portuguese Peer-to-Peer Platform Raize
30.05.2017 11:30 am

Banco BNI Europa Invests in Portuguese Peer-to-Peer Platform Raize

Banking

Banco BNI Europa has signed a strategic agreement with Portugal’s largest peer-to-peer lender RAIZE to boost lending to SMEs in the country. The online challenger bank is looking to invest €10 million over a two year period. The Portuguese economy has experienced strong GDP growth of 2.8% in the 1st quarter of 2017 and in 2016 captured the largest amount of foreign direct investment in the last 20 years. 

Pedro Coelho, Executive Chairman of BNI Europa said: “The bank is extremely committed to supporting SMEs in the European space. Our partnerships with Raize and MarketInvoice are just some of the initiatives the bank is promoting with fintech businesses and more are likely to follow. I believe it is inevitable that banks will have to work more collaboratively with fintech businesses going forward.” 
José Rego, Chief Executive Officer and cofounder of RAIZE said: “The deal between RAIZE and BNI Europa is the first of its kind in Portugal, and shows renewed interest from investors in Portuguese businesses.”

“We are seeing very interesting growth rates in the Portuguese market - a market most people thought was too risk-averse and unsophisticated. In fact, at the pace we’re growing, we expect 25% of SMEs in Portugal to be financed by investors in 5 to 10 years’ time,” José Rego said.

Related News

Yolt Chief Moves Back to ING

Frank Jan Risseeuw, CEO of account aggregation platform Yolt, is moving across to ING to take charge of the Dutch bank's 'Model Bank' strategy.

One of the cornerstones... Read more »

CEO of Yolt moves across ING after four years of building award winning open banking scale-up

Today Yolt announces that its Chief Executive Officer, Frank Jan Risseeuw, will leave the company after building the brand... Read more »

Integral FX ADV down 6.6% MoM in November

Integral, the technology partner trusted by leading banks, brokers, and asset managers to help them outperform their competition in the foreign exchange market, reported today... Read more »

Nomura Expands Pico Relationship to Accelerate Growth of Global FX and Rates Businesses

 Nomura, Asia’s global investment bank, has selected Pico, a leading provider of technology services for the financial markets community globally, to build, host and manage a... Read more »

Wolters Kluwer Survey Points to Substantial Risk and Compliance Concerns for U.S. Lenders

Notable regulatory compliance and risk challenges remain high in a number of key areas for U.S. banks and credit unions. That’s according to results of Wolters Kluwer’s eagerly... Read more »

Canadian Neo Bank Koho Extends Series B by C$25 Million

Drive Capital and National Bank of Canada have invested C$25 million in Canadian neo banking startup Koho.

The new funding is an extension of the startup's earlier $42... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel