London / Luxembourg, 22 March 2016
- First Euro-denominated Bonds backed by marketplace loans
- First Fintex investments made: consumer loans originated via Germany’s leading P2P marketplace
- Fintex Capital will make further investments in P2P loans and the wider Fintech arena in due course
Fintex Capital, an institutional investor dedicated to established P2P-lending platforms in Europe, successfully completed its first investment on a P2P marketplace earlier this month. Fintex is investing in German consumer loans originated via auxmoney, Germany’s leading P2P marketplace. In connection with this investment, Fintex Capital has issued a Bond to institutional investors, the first of its kind. Fintex is highly selective of the marketplaces it invests on and the Fintex team works closely with the platforms to ensure the investments meet its stringent requirements. Over the coming months Fintex plans to make further credit investments in the fintech arena.
A growing pool of investors has recognised that investments on carefully selected P2P marketplaces offer attractive returns in times of volatile equity and credit markets and a lower-forlonger interest rate environment. With this in mind, Fintex Capital purchases sizeable portfolios of loans originated on leading marketplaces as principal. In doing so, Fintex enables professional investors – such as pension funds, insurance companies, high net-worth individuals, private banks and family offices – to deploy significant capital on P2P marketplaces in a hassle-free manner.
Investors purchase Bonds issued by Fintex Capital which are directly linked to discrete loan portfolios. Fintex Bonds are capital markets friendly as they carry an ISIN and are settled through Euroclear and Clearstream. Investors in fixed income markets are intimately familiar with investing in this manner which eliminates time-consuming administrative processes and complex documentation.
Fintex Capital was created in 2015 to originate, structure and manage bespoke P2P investments for professional investors with an institutional mindset. The aim is to deliver capital preservation, consistent income and superior risk-adjusted returns. Based in London, the Fintex team has a longstanding track record in investment structuring and asset management, as well as thorough investment experience within P2P lending. To manage its investments, Fintex Capital employs proprietary risk management tools which were developed in-house over the past 15 months. The firm’s centralised risk management systems enable the team to closely track the performance of each individual loan and provide sophisticated monitoring, reporting, valuations and projections for each portfolio to a top-class standard.
Robert Stafler, Co-Founder of Fintex Capital said:
“We are delighted to launch Fintex, a new and unique fintech investment firm. More and more investors consider marketplace lending a highly relevant asset class for their fixed income portfolios. Our aim is to take P2P lending ‘mainstream‘ among institutional investors by making it as easy and hassle-free as possible for them to invest on the marketplaces they like. Fintex was specifically designed as an issuer of debt instruments that investors are intimately familiar with. In doing so, we provide a missing link between Europe’s leading marketplace lending platforms and global capital markets.
Fintex Capital has a number of investment mandates from a diverse range of investors who prefer bespoke and transparent investments over traditional investment funds, and I am delighted that our unique approach has been warmly welcomed by the investment community.
We are pleased that the first Fintex investment is on auxmoney, a platform we are very familiar with, a market leader in one of Europe’s most resilient economies. Our investment was preceded by comprehensive due diligence where we analysed platform, performance, processes and the wider market using proprietary tools.
We look forward to investing on more handpicked platforms around Europe and in the wider fintech arena.”
About Fintex Capital
Fintex was founded by Robert Stafler and Jérôme Anglade, who are both marketplace lending and structured credit veterans. Together with their team, the two have years of experience in the P2P arena as well as in structured credit, securitisation markets, SME’s and consumer finance.
Robert is the CEO of Excellion Capital, a merchant banking boutique established in 2007; the activities of Fintex are housed in Excellion’s London office. Robert has been actively involved in the growth and development of auxmoney since 2007. Following his law degree, Robert spent close to a decade with JPMorgan and JPMorgan Cazenove in Investment Banking with a focus on M&A and Capital Markets.
Jérôme also has significant experience in P2P lending. He co-founded Maple Bay Asset Management, an independent fixed income investment firm investing in US consumer loans on the Prosper Marketplace. Jérôme has 20 years’ experience in structuring, trading and riskmanaging fixed income investments, having spent 11 years at Morgan Stanley where he was Managing Director and Head of European Structured Credit. He also served as Head of Structured Illiquid Credit Trading at Bank of America Merrill Lynch and as Portfolio Manager for Citi Capital Advisors. He graduated from École Polytechnique with an MSc. in Physics.