LCM Partners invests € 50 million in Aasa Global
LCM Partners, one of Europe’s leading alternative investment firms, will invest € 50 million to support the regional portfolio expansion of Scandinavian consumer credit specialist Aasa Global.
The loan facility will be used to support the rapid growth of Aasa’s loan portfolio. Commenting on the transaction, Kimmo Rytkönen, Aasa Group co-founder and CEO said: “We are excited to add LCM Partners to our already experienced investor group and to see Aasa’s growing track record of attracting premium investors. The raised long term funding brings stability and enables Aasa to execute its growth strategy while reducing the company’s funding costs”.
Aasa is a company with Scandinavian roots, specialising in non-bank consumer loans, which has been active in Finland since 2010 and has more recently expanded into Poland and Sweden. It is a “disruptive fintech” company underpinned by a proprietary comprehensive scoring models that combine traditional credit parameters, as used by traditional lenders, with a “big-data” data science approach. Aasa’s business model focuses on providing customers with fair and transparent instalment loans at a reasonable price to compete with the small to average size loan products offered by traditional retail banks.
LCM Partners is one of Europe’s leading alternative investment management firms with over € 19.6 billion of loans under management across 2,000 portfolios. They have more than 18 years of experience in investing in credit. LCM is widely recognised for its track record of successful investments in different types of credit portfolios which generate strong returns for its clients.
Altimapa Limited advised Aasa Global on this fund raise. Altimapa is a London based debt specialist with a focus on raising funds for mid-market companies and credit platforms.