Finitive, a financial technology platform providing institutional investors with direct access to private credit transactions, announced over the last two years it has assisted with ongoing capital raises for Marketlend, a securitized lender platform that delivers short-term credit facilities for small and medium-sized enterprises (SMEs) in Australia and Asia by enabling the matching of investors to the underlying SME facilities.
Sydney, Australia-based Marketlend secured in excess of A$200 million via a series of credit facilities from a consortium of investors, including banks, credit funds and other institutional investors from Australia, Asia and North America. Marketlend will use the capital to fund its leading buy now pay later “Unlock” product for Australian SME borrowers and Asian trade credit transactions.
Marketlend’s trade credit facilities are secured by a first-priority lien over the borrower’s business, and either the borrower’s accounts receivables or inventory. The loans are insured against principal loss by investment-grade rated insurance companies.
“Australian & Asia SMEs struggle to obtain extended credit for the purchase of supplies and especially in the present COVID-19 environment. Marketlend solves this ongoing need for credit facilities by creating insured securitization structures for investors to extend credit directly to those businesses,” said Finitive founder and CEO Jon Barlow. “We are thrilled to have connected Marketlend with a global consortium of investors through the Finitive network.”
Marketlend CEO Leo Tyndall said: “Over the years we have worked with Finitive, and its ability to introduce us to investors globally has significantly assisted us in developing and growing our platform. Unlock, our buy now pay later for business, has been supported by investors providing the capital to enable its significant growth in the market and that would not be possible without the global investors participating in our platform.”
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