Midday update: Trade Me joins Heartland with stake in Harmoney

By Greg Elisara. Posted 12 January 2015.

Online auction site Trade Me has broadened its horizons with a 15 percent stake in peer-to-peer lender Harmoney, joining Heartland New Zealand as one of web-based firm’s backers. Wellington-based Trade Me spent $7.7 million taking the stake in a $10 million capital raise, and will use its network to promote Harmoney as part of its expansion into consumer finance. Heartland, which took a 10 percent stake in Harmoney last year, also backed the capital raise.