Rotterdam-based Lendahand, an online impact investing platform regulated in the Netherlands, announced on Friday that it is acquiring Paris-based colleague crowdfunder Babyloan for an undisclosed amount. The acquisition may become the first pan-European crowdfunding platform for impact investments.
Recently, Lendahand raised €5.5M from the ABN AMRO Sustainable Impact Fund (AA SIF) and two French institutional investors, INCO and the NGO Acted. The investment enables Lendahand’s further expansion in other European countries and reaching more crowdfunders with France as the first new market through the acquisition of Babyloan.
Additionally, with the new capital, Lendahand also looks to strengthen its position in the target markets and contract new partners in other emerging economies.
A French crowdfunding platform specialised in micro-loans
Arnaud Poissonnier, a French social entrepreneur, established Babyloan in 2008 to enable families in developing nations to receive affordable financing through microcredit. To date, French investors have supplied €26M in funding to more than 50,000 micro-entrepreneurs in 30 countries.