Žltý melón, the first p2p2 lending service in Slovakia, has successfully completed a Series A investment round and raised its capital to strengthen further development and implementation of strategic plans.
According to information P2P-Banking.com obtained from the Žltý melón management, the first tranche was little below 1M EUR, with the agreement for additional capital in range of 2M EUR after several milestones will be achieved.
Žltý melón acquired investments from EU-investment fund program JEREMIE, which is managed by Limerock Fund Manager, FTK Invest, an investment company, and Mr. Hendrik Bremer, a long-time business partner of financial services in Central and Eastern Europe at PwC and Roland Berger, strategy consulting companies. Mr. Bremer has also joined the company’s management and thus supports its existing team.
Read an earlier guest post by CEO Roman Feranec about the P2P lending market in Slovakia.
The company plans to expand further into the Czech Republic and other countries in Central and Eastern Europe.
“After being on the Slovak market for two and a half years, we launched our Series A Investment Round in order to raise capital to accelerate growth and further implementation of our strategic plans, particularly in the areas of product portfolio, services for our clients and territorial expansion. We do see the investment as a confirmation of trust in the innovative business model and our company; it also shows that ​​peer-to-peer lending is perceived positively not only globally, but also in Slovakia. We really appreciate that Mr. Bremer has joined our team. His extensive experience in the development of financial services throughout our region will greatly assist in our future development,” says Roman Feranec, CEO of Žltý melón.
“Žltý melón is a pioneer of peer-to-peer lending in Slovakia. Since its establishment in 2012, it has proved that it is an attractive alternative for people who want to borrow money and also for people who want to increase the value of their investments under more favorable conditions than other institutions on the financial market offer. Despite the minimum budget for advertising and marketing, Žltý melón has provided an interesting volume of loans and received a large number of loyal clients while there is still a great potential to further innovate and expand the product and the markets covered,” adds Michal Jablonka, Managing Partner at Limerock Fund Manager.
“Peer-to-peer lending is a trend that is significantly changing the financial system …. Especially in the USA and UK, these changes have been clearly visible for some time. Not only have they been positively perceived by the government and financial regulators, but also their great services for clients have made financial world much less vulnerable and dependent on giant financial institutions. Countries in Continental Europe successfully follow this trend and Central and Eastern Europe is part of this development too,” Hendrik Bremer explains why he decided both to invest in Žltý melón and joining the company’s management