Bitcoin P2P Lender Bitbond Secures €5 Million to Fund Loans

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German peer-to-peer bitcoin loan platform Bitbond has netted €5m in debt financing to fund new loans through its SME lending platform.

Launched in 2013, Bitbond provides a platform to connect lenders and borrowers while facilitating loans in bitcoin. The platform also checks the credit-worthiness of applicants and the purpose of the loan while determining an interest rate for a loan. To facilitate its global marketplace, the startup uses the Bitcoin blockchain for international payment processing.

In an announcement this week, the Berlin-based company announced that it received €5 million in debt commitment from Obotritia Capital, a commercial real estate firm based in Germany. Terms of the debt investment also include an undisclosed stake purchased by the German investor in Bitbond.

“The debt commitment by Obotritia brings Bitbond to the next level in our efforts to provide universal SME financing,” said Bitbond CEO and founder Radoslav Albrecht in a statement. “The next step is to work with partners. Such partners could be online marketplaces who want to add value to their platforms by giving their merchants access to instant

Read more ... source: CryptoCoinsNews

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