Wednesday 26 July 2017

Ice cream retail chain secures online funding

Linked Finance CEO Niall Dorrian and Murphy’s Ice Cream co-founder Sean Murphy enjoy a break
Linked Finance CEO Niall Dorrian and Murphy’s Ice Cream co-founder Sean Murphy enjoy a break

A chain of Irish-owned ice cream stores has secured €75,000 in funding from an online lender, in what is thought to be Ireland's largest peer-to-peer (P2P) loan ever.

The funds were raised through online lending platform Linked Finance in less than 48 hours and will be used to help finance the fit-out of a new shop and show factory in Dingle.

Founded in Kerry in 2000, Murphy's Ice Cream has since expanded to four stores - in Dingle, Killarney, Dublin, and at the Cliffs of Moher. In May, the firm began exporting its Dingle-produced ice cream to Majorca.

Linked Finance has raised over €2.5m for more than 80 Irish firms since launching its fixed rate loan product in August.

The online platform aims to lend more than €350m to SMEs by the end of 2019.

Sunday Indo Business

Promoted articles

Also in Business