GLI Finance, a leading investor in the global alternative finance sector, is delighted to announce that MytripleA, its Spanish investee company, has become the first crowdfunding platform to sign a partnership agreement with the Spanish Confederation of Small and Medium Enterprises (CEPYME), which will see the business’ products endorsed and promoted by CEPYME to its 2 million SME members.
As Spain’s only licenced crowdfunding platform, the collaboration will see MytripleA play a crucial role in delivering investment and working capital solutions to the country’s high-growth SME community and demonstrates the continued growth of the alternative finance sector across Continental Europe.
Sergio Anton, MytripleA founder, explained: “Technology has enabled the disintermediation of financial markets and MytripleA was born with the aim to democratise the financial industry in Spain by giving investors the option of lending money directly from their computer, and giving any SME the option of applying for funding without knocking on the door of a bank. We are proud to offer our services to CEPYME members as it opens up a new source of much needed funding for high growth SMEs in a country that has for far too long been dependent on traditional banks.”
Antonio Garamendi, president of CEPYME: “Opening new funding solutions for our members is critical to supporting their growth. Crowdfunding has been successful in countries such as the US or UK and we hope that we will see the same impact in Spain. We are convinced that not all projects for expansion and business growth should have to rely exclusively on bank financing and therefore are confident that this agreement will be beneficial to the country’s SME community.”
Louise Beaumont, Head of Public Affairs and Marketing at GLI Finance, commented: “This a fantastic achievement for one of the newest members of the GLI Finance family. The announcement clearly demonstrates that the rapid growth of the alternative finance sector is not just a UK or US phenomenon and that the difficulties SMEs face in accessing finance is a global issue. CEPYME’s endorsement will play an important role in supporting MytripleA through its next phase of development and we’re excited about the prospect of more strategic partnerships across our portfolio of 19 alternative finance platforms.”
For more information
Nick Woods/Cornelia Schnepf
0207 457 2020
Notes to editors:
- GLI Finance is a leading investor in the global alternative finance sector offering a spectrum of financial solutions to SMEs via its full portfolio of 19 investee platforms
- GLIF’s portfolio contains: The Credit Junction, TradeRiver Finance, TradeRiver Finance US, Sancus, BMS Finance, Proplend, Ovamba, Raiseworks, Finexkap, LiftForward, FundingKnight, UK Bond Network, Dansk Faktura Bors, Crowdshed, Platform Black, Finpoint, Open Energy Group, MytripleA, and Funding Options
- GLI Finance (GLIF) is AIM listed
MytripleA is the first and only Spanish lending Platform licensed by the Bank of Spain. Through www.mytriplea.com investors can decide the risk and return they want to get for their money, and, for more conservative investors, MytripleA offers insured loans. In addition, SMEs have access to a source of financing where investors compete to lend money in the best conditions for SMEs.
The Spanish Confederation of Small and Medium Enterprises (CEPYME) is a private non-profit organisation that represents and defends the interests of SMEs and self-employed before the Spanish public authorities and society in general. CEPYME voluntarily integrates more than two million SMEs and self-employed entrepreneurs from all sectors and of all the territories, thus being the most representative business organisation at national level.