Sunday 19 November 2017

Irish lending platform FundSME launches in Caribbean market

Former director of Eircom mobile Niall Dorrian
Former director of Eircom mobile Niall Dorrian
John Mulligan

John Mulligan

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.

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 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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