SaveLend Group has completed the migration of Lunar's P2P customers
Kurs & Likviditet
Prenumeration
Beskrivning
| Land | Sverige |
|---|---|
| Lista | First North Stockholm |
| Sektor | Finans |
| Industri | Övriga finansiella tjänster |
In April, SaveLend Group AB's ("SaveLend Group" or "Company") subsidiary SBL Finans AB entered into an agreement for the conditional acquisition of Lunar Bank A/S ("Lunar") P2P operations. The Danish Financial Supervisory Authority approved the deal on Wednesday, 7 June, and today all of Lunar's P2P customers, both borrowers and investors, were migrated to SaveLend Group.
The migration covers 30,000 customers, including 17,000 active investors, 7,000 inactive investors, and 6,000 active borrowers. The investors were migrated to SaveLend, and the borrowers were migrated to LoanStep. The invested capital on SaveLend's platform increased by SEK 418 million through the migration.
The acquisition in brief:
- SaveLend Group acquires all customer relationships, both investors and borrowers, as well as the Lendify brand and domain (.fi, .se, .com, .dk, and .no) in the transaction.
- No purchase price is paid upon entry. Instead, performance-based remuneration is paid. SaveLend Group thus takes on no loans and causes no dilution for its shareholders in connection with the acquisition.
- Performance-based compensation will be paid to Lunar at 50% of actual revenues during the period 2023-2027 from the active investments being taken over. After that, all revenues accrue to SaveLend Group.
"At this point, we have carried out several migrations and got a good routine in place, which contributed to us being able to carry out this migration so quickly. I am extremely impressed with our employees who took on and completed this project in the best possible way. The acquisition opens up more opportunities for product development as our new customers have an appetite for longer terms and slightly lower risk-adjusted returns. Now we look forward to warmly welcoming our newly migrated customers," says Ludwig Pettersson, CEO of SaveLend Group.