French SME crowdlending platform Unilend has raised €2.5m in a new round of funding from NewAlpha Asset Management.
The investment is the third made by the Paris-based VC’s dedicated fintech and assurtech fund, which it launched in November 2015.
The fund previously participated in a €2.3m round for donation payments platform Heoh and fintech security firm ITrust’s €2m haul.
Unilend claims a community of 10,600 lenders that have successfully funded more than 270 projects.
It says that it became the first French peer-to-peer lending platform to pass €20m in total raised in July.
France was the second most-active European region for alternative financing last year with more than €319m raised.
This was some way behind the €4.4bn raised through alternative financing platforms in the UK over the period, highlighting the potential for the growth of the French market.
Unilend raised an €8m round from 360 Capital Partners, Bpifrance and Ventech in March 2015.
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