Trade Me buys 15 pc stake in Harmoney

By Greg Elisara. Posted 12 January 2015.

Trade Me has bought a 15 per cent stake in "peer-to-peer" lending firm Harmoney for $7.7 million. Harmoney operates an online platform through which people can offer money to others seeking loans, providing an alternative to borrowing and depositing money through the banks. It became the first peer-to-peer (P2P) lending company to obtain a licence from the Financial Markets Authority in July and had facilitated $4.5m in personal loans by November.