Racefields partners with Singaporean funder
By Tom BelgerRacefields has teamed up with a Singaporean funder to expand the reach of its new debt trading platform
Section: mobile apps categories
The Manchester-based company recently launched its debt trading platform and through the new partnership, any deals listed on the RCX platform that match the investment criteria of the funder will also be listed on the Singaporean platform.
It also means that UK-based lenders that are keen to refinance their loan books will have a direct route to Asian investors.
“This is a very important relationship for Racefields as it boosts liquidity for the RCX platform and will also give us access to investors in the Asian market, not just the UK,” said Chris Maamoun, managing director of Racefields (pictured above).
“This won’t be our only strategic partnership; we’re looking to build more with other funders not just in Asia, but around the world.”
Racefields said that the Singaporean funder was keen on deals with a first charge and would look to refinance bridging loans with a coupon of 10%.
Racefields is continuing to seek lenders who are interested in refinancing asset-backed securities.
Nearly £6m worth of bridging loan debt was uploaded to the RCX platform less than two weeks after launching.
Investor interest has also been high with large American funds and FTSE250 companies registering their interest in the platform early on.
Keywords: Racefields, Racefields debt trading platform, Singapore investors, bridging finance, bridging loan debt, debt fund, debt trading, RCX Platform, property finance, overseas investors, investment platform, debt investment