StockMarketWire.com - GLI Finance - a specialist provider of finance to small and medium-sized enterprises - has agreed to invest €445,500 in MytripleA, as the lead investor in a €1m equity financing.

MytripleA is the first fully regulated Spanish peer to peer lending platform that facilitates the provision of alternative financing for Spanish SMEs.

In return for the consideration GLI will receive a 9.9% equity stake in MytripleA.

GLI has also committed to sourcing funding for €10 million of loans made through MytripleA, while other private investors have committed a further €4 million for the same purpose.

GLI chief executive Geoff Miller - who will be appointed to the MytripleA board - said: "This investment is a perfect fit with our strategy of focusing on unique platforms which provide capital to SMEs. It also enables us to expand our portfolio into Spain, which we see as a particularly attractive market due to its rigorous risk controls and robust regulatory approach. We believe that, having obtained full approval from the Bank of Spain to operate a peer to peer platform, MytripleA is uniquely placed to originate loans in Spain with an excellent risk-adjusted return profile."


At 8:05am: [LON:GLIF] GLI Finance Ltd share price was +0.01p at 58.38p



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