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Comunitae gets 2 million Euro funding

Comunitae gets 2 million Euro funding from Entrinnova to establish itself as a p2p lending service in Spain.

Comunitae will allow loans between 3,000 and 15,000 Euro for loan terms of 1 to 3 years. The amount that lenders can lend will be up to 50,000 Euro (minimum 50 Euro). Only residents of Spain will be able to use the platform.

Founded by José Miguel Rotaeche and Arturo Cervera, both ex-bankers at BBVA, Comunitae aims to launch in mid 2009. The name is derived from “Comuni” for a group of persons and the spanish abbreviation “TAE” for interest rates.

(via Loogic.com)

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This entry was posted on Tuesday, November 25th, 2008 by wiseclerk at 11:11 am and is filed under Comunitae, Spain. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

One Response to “Comunitae gets 2 million Euro funding”

  1. Comunitae’s February Newsletter Promises Launch Soon | P2P Lending News Says:
    March 1st, 2009 at 1:11 pm

    [...] is racing against Lubbus to be the first social lending site in Spain. With 2 million Euros in funding, Comunitae probably has more resources; Lubbus has not announced any funding to [...]