Business

Saturday 3 December 2016

Irish lending platform FundSME launches in Caribbean market

Published 03/08/2016 | 02:30

Former director of Eircom mobile Niall Dorrian
Former director of Eircom mobile Niall Dorrian

FundSME, an Irish company that connects small and medium-sized business borrowers with lenders through an online platform, has entered its first overseas market - Jamaica.

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Managers at the Dublin-headquartered company believe the model already rolled out here can be replicated and scaled across a range of new markets.

In Ireland Fundsme.ie has so far helped hundreds of business borrowers access a combined €20m in finance, including from alternative and niche debt providers.

In Jamaica, it is working in partnership with Denis O'Brien-owned Digicel's business solutions unit to roll out its services.

FundSME acts as an intermediary, not as a finance provider.

The platform is designed to match borrowers to their most relevant financing options using a simple online questionnaire.

Separately, Eircom's former director of mobile, Niall Dorrian, has been appointed chief executive of Irish peer-to-peer lending company Linked Finance.

Mr Dorrian also previously worked for Digicel as a senior executive.

Linked Finance's former ceo, Peter O'Mahony, is taking a new role as chief strategy officer with the company.

Linked Finance has lent over €11m to more than 500 companies since it was set up.

The company aims to be Ireland's biggest non-bank lender by the end of 2019, with more than €350m lent out.

Irish Independent

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