The Irish P2P lending platform is the latest alternative lending platform to receive investment from the Portuguese bank after the latter provided support to P2P lenders in Germany, Belgium and Finland.

The bank will deploy its capital alongside Linked Finance’s existing lenders and the platform will connect Irish SMEs in need of finance with its online lending community of over 19,000 users.

The agreement aims to boost the liquidity on Linked Finance, which has already provided more than 1,400 loans to Irish SMEs, lending over €59m (approximately £52m) to date.

Niall Dorrian, CEO at Linked Finance (pictured above, left), said that this was yet more evidence of how the world was changing and through technology it was making it easier for SMEs to borrow money.

“This arrangement with Banco BNI Europa will allow us to immediately increase lending to local businesses.

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“It complements the funding available from our existing users – ordinary members of the Irish public – who will continue to play a crucial role in helping us to fulfil our mission of providing fast and affordable finance for Ireland’s SME sector.”

Notable companies that have raised funding with Linked Finance include Viking Splash Tours, The Rolling Donut, Big Red Cloud, Lolly & Cooks, Murphy’s Ice Cream, Iconic Offices and the Irish Fairy Door Company.

Pedro Coelho, executive chairman at Banco BNI Europa, added that Linked Finance was a natural fit for its business.

“Over the past [few] years, we have successfully built a network of strategic partnerships with fast-moving fintech companies across Europe.

“Ireland is a market we have been keen to enter and – as the leading P2P lending platform here – Linked Finance is the obvious partner.”

Also pictured above: Kieran Murphy, owner of Murphy’s Ice Cream