Aviation and Tech Capital, the company behind peer to business lending platform Ablrate.com, has signed an agreement with Luxembourg-based investment firm Synthesis to invest $20m through the Ablrate platform.
Synthesis will invest $20m (16m) through Ablrate over the next 12 months, including $2.15m which will be invested in November, according to a statement released by the firm.
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Synthesis, a Luxembourg-based private equity investment firm, said it was the first organization to launch an EU-regulated fund dedicated to investing in P2P loans, and said it invests in whole peer to business loans through its Synthesis-P2P sub-fund, holding over 90,000 loans originated by Lending Club and Prosper.
The Synthesis-P2P portfolio has exposure to consumer loans, and latterly other types of credit, notably commodity trade finance, invoice factoring and leases on fixed assets.
David Bradley-Ward, Ablrate chief executive officer and co-founder, said; "The Synthesis team has shown that it is very forward thinking in the P2P marketplace by creating the first European fund to invest through platforms, and now Synthesis is the first such fund to recognise the benefits of investing in the aircraft leasing marketplace alongside our existing investors."
Synthesis Founder and chief executive officer Spyros Papadopoulos said; "We have been speaking with Ablrate for some time, evaluating the proposition, the model and the technology. Our investment philosophy is to look beyond just the platform and evaluate the people behind the business. We have been very impressed with the professionalism of the team, their depth of knowledge of their industry, as well as that of peer/marketplace lending industry, and we are excited to be working with Ablrate."
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By GlobalDataAblrate specializes in the leasing industry and said it was the world’s first platform to offer transactions in commercial aircraft leasing. Bradley-Ward said; "The consumer loans sector of our industry is obviously a huge marketplace for alternative finance platforms and gets most of the attention. However the aircraft finance market alone will, according to Boeing and Airbus, require $4.5 trillion dollars within the next 20 years. Couple that with the swathes of capital that will be required for the wider leasing industry and you have a huge market to tap into."
