Type: Peer-to-Peer (P2P) Business Lending
Peer-to-Peer (P2P) Business Lending - geography: United Kingdom
CO. no.: Na.
We are an online platform that connects new and existing businesses seeking loans, with individuals who want to lend their money out and get better returns. We provide an exciting and interactive platform to enable this to take place, where lenders and borrowers get a better deal with minimal delays.
Based in the heart of the Welsh capital Cardiff, we are Wales' first Crowdfunding platform. Our aim is to make funding available to all creditworthy businesses in the UK. At Funding Empire, we make loans available to start-up?s and businesses trading less than 2 years as well as those trading for more than 2 years.
Description: As Managing Director of Funding Empire, Parag is responsible for managing the day to day operations and the strategic direction of the business. After graduating, Parag was involved in various retail, wholesale and manufacturing businesses predominantly in the pharmaceutical and convenience sectors.
Description: The UK Crowdfunding Association: Promoting crowdfunding as a valuable way for people, businesses & ventures to raise funds.
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Funding Empire, the P2P platform for SME business finance, has sold a majority stake to Paratus AMC, the Bracknell based residential mortgage servicer and lender.
Funding Empire will continue to be headquartered in Cardiff and is currently Wales? only P2P lending platform.
Commenting on the deal, Parag Patel MD of Funding Empire: ?We are delighted to welcome Paratus AMC as a partner and majority shareholder. Their team, mature back office functions, strong balance sheet and proven ability in managing secured assets on a large scale presents us with a unique opportunity to create a market leading business in the dynamic P2P lending market. With the backing of Paratus AMC, we are now best placed to accelerate the development of Funding Empire and build on the solid foundation the team has worked relentlessly to create over the past few years. We are currently working on the launch of some new and exciting products without compromising our reputation for taking a very thorough, transparent and customer-centric approach to doing business.?
Hans Geberbauer, CEO at Paratus AMC, said, ?We are delighted to have Parag and his team on board. They have built an excellent platform. In the fast moving P2P lending environment, they have resisted the temptation to take short cuts and built out Funding Empire?s business with great care.?