Do not invest more money than you can afford to lose.
P2Binvestor, a US marketplace lender for asset-based working capital, announced it has closed a $1 million credit deal with Urban Lending Solutions, a provider of outsourced services to the mortgage industry, including mortgage fulfillment, loss mitigation and valuation services. The credit facility does not include any equity, warrants or convertible features.
“Partnering with Urban Lending Solutions proves our ability to fund large facilities to established businesses through our marketplace model,” said Krista Morgan, CEO and cofounder of P2Bi. “We are thrilled that we were able to quickly close and fund a client of the caliber of Urban Lending Solutions.”
P2Binvestor is a crowdfunded receivables finance company operating an investment platform for small- and mid-sized businesses. It was established in 2012 and provides asset-backed lines of credit of up to $10 million per B2B borrower. The average credit line is of $1 million. The company works with accredited investors only.
Since early 2014 P2Binvestor has provided more than $300 million to its borrowers from industries that include technology, natural foods and products, manufacturing, logistics, energy and personnel services.
P2Binvestor itself has received equity funding worth $6.52 million in three rounds from two investors. Most recently it got $5.12 from an undisclosed venture investor this July.
Erin
Hello, correction: P2Binvestor has actually provided more than $300 million to borrowers since 2014, not $300. 🙂 Thank you.