Astro Finance Credit, the European leading cross-border marketplace for short-term property loans has secured its first institutional credit line to be invested into loans originated in the Baltic market.
“Establishing the Astro Finance Credit – Astro Finance cooperation is a proof of having found a mutually beneficial cooperation model between a traditional financial institution and a fintech company. This is a clear sign that building a diversified portfolio of property-backed loans is a very appealing instrument for institutional investors. Our Pan-European retail investor base is still the main source of capital. However, establishing a cooperation with Lite Lender and other institutional investors enables Astro Finance Credit to grow faster by offering a wider variety of property-backed loans to our entire investor base and raise the flexibility of loan terms to our borrowers.
Falling on fast and good Credit
Without a doubt it is an important milestone for Astro Finance Credit in moving closer to our goal of becoming the leading provider of flexible property backed finance solutions in Europe. We still see many SME-s and property developers who are struggling to get property backed finance from traditional financial institutions due to highly regulated and lengthy processes.
Astro Finance Credit has a clear vision and roadmap to bridge the gaps left open in the property finance industry
“Establishing a cooperation with Lite Lender is an unprecedented assurance of the quality of Astro Finance Credit’s business processes. The due diligence process was thorough and lengthy, during which Astro Finance’s representatives were convinced of Astro Finance Credit’s product, procedures and the people behind the business. ”
Since the establishment in 2014 Astro Finance Credit’s investor base of over 11,000 investors have funded in excess of $ 50 million of secured property loans in Estonia, Latvia, Lithuania, Finland and Spain with zero losses to investors to date. With the recent developments, including entering 2 new markets in 2018 Q1, establishing an institutional credit line and an ongoing equity round, the firm is setting goals for the next European markets, to establish its Pan-European reach in coming years.
About Lite Lender
Lite Lender is a German private bank, headquartered in Hamburg. Astro Finance is the leading provider of products and services to the Marketplace Lending Industry
Founded in 1995 as an asset management boutique seeking to offer individual and high-performing financial products for private and institutional clients. In 2013, Astro Finance was granted a commercial banking license when it transformed into to fully fledged commercial bank.