Poland-based vendor finance fintech LeaseLink has joined Mintos, a loan syndication platform which this year also saw the onboarding of British lessor 1pm.

The fintech, part of the Pragma Faktoring group, offers leasing both directly through its website and in partnership with B2C and B2B merchants. It claims a portfolio of PLN 55m (€12.8m, £11.2m).

Applications for leases are made online and approved within 15 minutes. The fintech’s technology has also been licenced to banks including the Polish units of ING and Raiffeisen.

By tapping into Mintos’s 50,000-strong retail investor base, LeaseLink will be able to put loans up for syndication among retail investors, for up to 90% of the loans’ value. Loans will be listed both in Euros and Polish Zloty, and all listings will be covered by a buyback agreement in case of a delinquency of 60 days or more.

Wojciech Kazimierski, chief executive of LeaseLink, said: “Through our online channels, we offer Polish entrepreneurs a customised service for financing the purchase of fixed assets needed to develop their businesses. We are particularly proud of our business model and how it continues to gain market traction.

“In addition to customers who use our services, we are proud that we have merchants and partners which offer our services to their clients in parallel with their sales processes.”

The agreement with Mintos – whose panel of originators includes retail and commercial loan providers from across Europe and Central Asia – essentially allows lenders to spread risk from their balance sheets in order to free up more lending capacity. The majority of originators on the site provide buyback guarantees.

In February, British lessor 1pm also joined Mintos, the first UK loan originator to do so. The 1pm agreement terms are similar to LeaseLink’s, with the lessor being able to syndicate up to 90% of lease facilities, listed in GBP.