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

Token and Icefire were chosen by TBB for PSD2 compliance

Turnkey open banking platform provider, Token.io, today announces it has been chosen by Tallinn Business Bank (TBB) to deliver PSD2 compliance in partnership with technology... Read more »

Commerzbank Plans to Issue Additional Tier 1 Bond

The Board of Managing Directors of Commerzbank AG has decided to issue a subordinated bond. The bond meets the criteria set out in the Capital Requirements Regulation (CRR) for... Read more »

Julius Baer Chooses ALPIMA

Julius Baer, the leading Swiss private banking group, chooses ALPIMA for rule-based portfolio derivation and visualisation within its Investment Management business.

... Read more »

Banco Agrícola allows the online opening of the "Cuenta Fácil" bank account with Mobbscan

Banco Agrícola, leader in El Salvador, which after the acquisition in 2007 by Grupo Bancolombia becomes a... Read more »

Helene Jepson appointed Chief Compliance Officer at Nordea

Helene Jepson has been appointed Chief Compliance Officer and Head of Group Compliance. She will report to Chief Risk Officer, Head of Risk & Compliance Matthew... 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