Income raises €1.3m in latest funding round
Income has raised €1.3m (£1.1m) in a funding round that values the European peer-to-peer lending platform at €10m.
The Estonia-based consumer and business lending platform said it will use the funds to develop and improve its products and scale the business.
The funding round was led by Tolaram Fintech with participation from equity crowdfunding platforms Seedrs and Seedblink and new and existing early-stage investors.
Income’s founder and chief executive Kimmo Rytkönen also invested in the round.
Read more: How European P2P lenders are protecting investors from war in Ukraine
Read more: European P2P lending market set for 20pc growth
“Income is well-positioned to benefit from the fast growth of fintech lending globally,” said Rytkönen.
“The past year has shown us that we are no longer proving a concept, but there is a demand for our product from investors and fintech partners.
“The growth opportunities are nearly endless. We already see established fintechs connecting with us to arrange a listing of their loans for investment.”
This follows Income raising €844,019 from its last crowdfunding round in February, which it launched the previous month.