Mergers and acquisitions continue to take place in the fintech industry, as Finstar Financial Group has acquired a controlling 51% stake in Spanish Prestamos Prima. An alternative finance firm, Prestamos Prima provides P2P lending services through the Viventor platform. An investment holding company, Finstar has over $2 billion in assets under management.
According to the firms, the deal is expected to boost Viventor’s growth across Europe. Currently, the platform provides consumer loans and mortgages and is open to investors across all of Europe.
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Operating a P2P platform, among Viventor’s missions is opening its platform to an extremely wide investment retail base. As such, the firm allows investors to participate in loans for as little as €10 and €50 minimum account deposit sizes. In addition, Viventor has created a secondary market to provide investors with liquidity to exit positions.
Nicholas Jordan, CEO of Finstar Financial Group, commented on the deal: “We are excited about our partnership with a peer-to-peer lending platform such as Prestamos Prima’s Viventor. Finstar is always looking for innovative products in the fintech space and Prestamos Prima is a leader in the European market. We are delighted to work with the talented management team to strengthen Viventor, assist with rapid expansion of other projects and the further diversification of its portfolio.”