Honeycomb fund makes equity investment in lending platform

Monday 2 July 2018 09:21 CET | News

The GBP 454 million Singapore-based investment trust Honeycomb has joined the Round C fundraising for a new lending platform provider ezbob.

The company is a software provider for banks and other financial institutions with current clients including Esme Loans and Clydesdale Yorkshire Bank. Analysts at Liberum have declared that ezbob is the fourth equity investment made by Honeycomb, following investments in Pay4Later, Freedom Finance and Hiber.

The total investment across the other three equity positions is GBP 7.7 million, equivalent to 1.9% of NAV (maximum limit of 10%). According to Pollen Street Capital, a number of opportunities are expected to close, which will use the cash balances. The Company has committed debt facilities in place of GBP 150 million, plus an ability to upsize with the expectation of increasing the debt to equity ratio towards the target.

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Keywords: Honeycomb fund, investment fund, equity fund, lending platform, ezbob, Round C financing, ezbob, Singapore
Countries: World