STOCKHOLM, Sweden, July 1, 2014 (GLOBE NEWSWIRE) -- TrustBuddy is pleased to announce that a large institutional fund has committed to deploy up to $ 40 million (SEK 270 million) to fund loans on the TrustBuddy platform. We are delighted to add this institutional partner to our community of lenders, a development that will help to drive material growth in the amount of lending we provide to borrowers on our platform.
As anticipated and previously announced, this is a significant commitment by an institutional investor of loan funding and will support TrustBuddy in working towards its expected lending volumes in 2014 of more than $ 200 million (SEK 1.5 billion). We will seek to bring other institutional investors onto the platform in due course.
As recently announced we have now released our new IT Platform and website, the implementation of which will allow us to expand our offering beyond short term lending, and into several future business areas already programmed in the new platform. We have also made major enhancements to TrustBuddy's credit assessment processes which, along with our marketing strategies, should enable us to grow our borrower community. These recent developments will help ensure full scalability of our platform to accommodate TrustBuddy's anticipated future growth.
For further information, please contact:
Jens Glasoe, VD, TrustBuddy International AB (publ)
+47 40 40 47 50,
About TrustBuddy International AB (publ)
TrustBuddy International AB (publ) is one of the first in the world to focus on arranging loans and capital provision between buddies in Scandinavia in an organised manner. The company is listed at
NASDAQ OMX First North in Stockholm. Mangold Fondkommission is TrustBuddy International AB (publ)'s Certified Adviser and market maker, phone number: +46 8-503 015 50.
Source:TrustBuddy International AB