Press release

Harmoney facilitates $200m of loan volume, pays lenders on the marketplace $15m in interest income, and closes an $8.5m Series B financing round.

Auckland, 15 February 2016

Harmoney Corp Limited, Australasia’s largest and fastest growing peer-to-peer lending marketplace, has confirmed the sale of $8.5m of Series B shares to a US-based investor and UK-based P2P Global Investments PLC (P2PGI). The Series B round values Harmoney at $109m.

This development comes as Harmoney moves swiftly towards the milestone of having facilitated loans to creditworthy borrowers totaling nearly $200 million since its launch just 17 months ago.

Harmoney founder and co-CEO Neil Roberts comments: “We’re delighted with the new arrangement, which, as we see it, is further validation of our strong performance since launching in September 2014. It is also attributable to our increase in origination volumes, conservative credit underwriting and strong management team.”

The new working capital will provide the necessary cash reserves to expand Harmoney’s suite of product offerings, increase headcount and support its growth forecasts in both New Zealand and Australia.

“Harmoney will continue to invest in our online marketplace,” adds Roberts. “We are focused on continuously enhancing the experience for both Borrowers and Lenders.

Harmoney is the only New Zealand or Australian platform to achieve the credit underwriting standard to attract local and offshore institutional lending capital, enabling Harmoney to have $500m of lending capital to fund borrowers in the marketplace.

ENDS
For more information:
Kelly Bennett, One Plus One Communications +64 21 380 035

About Harmoney

The Harmoney team are committed to providing a better way to lend and borrow cutting out the need for traditional banks and finance companies.

Harmoney gained strong acclaim among their borrower community having been awarded a 5-star customer satisfaction rating 4,000 times and counting.

Previous winners of Innovator of the Year, and Deloitte Rising Star awards, Harmoney were also thrilled to be a finalist at the 2017 High Tech awards.

Harmoney was granted the first New Zealand Peer to Peer lending license by the Financial Markets Authority and was the first Kiwi peer to peer lender.

Company highlights:

  • Operating in Australia and New Zealand
  • NZ$500 million transacted by lenders and borrowers on the platform
  • 85 new jobs created
  • 150,000 accounts created to date across borrowers and lenders
  • Heartland Bank and Trade Me cornerstone shareholders