Flender is a marketplace lender for the Irish SME market. This market has suffered from a large funding gap as the incumbent banks have retrenched.
The Irish SME market was valued at €3.7bn in 2018 a 31% increase since 2016.
Through a combination of P2P funding and institutional investment, Flender is delivering much needed funding to Irish SMEs quickly and efficiently.
As this is a pre-emption campaign open only to existing investors, limited information is being provided at this time.
Please note that Flender has two outstanding Convertible Loans:
- One for £350,000 with a 12% interest rate. This is convertible on an investment round of £2m or more, at a 20% discount to the price set by the round.
- One for €350,000 from Enterprise Ireland. This is convertible at a discount to a trigger event. The discount ranges from 15% to 55% depending on the time it takes for the trigger to occur.
Seedrs investors will have pre-emption rights on these amounts once they convert into ordinary shares.