UK-based direct lending investment manager and technology provider Goji today announced it has secured an undisclosed multi-million pound funding round from investors including Anthemis’ Venture Fund 1 and AXA Strategic Ventures.
The funding will allow Goji to further develop its platform and product pipeline, including the Diversified P2P Lending Bond. Launched in January 2017, the bond was the first in the UK to give investors access to a diversified portfolio of more than 1,000 loans in an IFISA using Goji’s proprietary investment strategy. Alongside Goji’s platform, which provides a single point of access for advisers to direct lending products, the bond allows advisers to access direct lending through a single vehicle. The bond’s first 12-month results will be released at the end of January.
“Anthemis is dedicated to reinventing financial services for the digital world by cultivating change and new business models,” Anthemis partner Yann Ranchere said. “The development of new asset classes is an important part of this change and Goji personifies this vision by combining a strong technology platform with a clear focus on the direct lending sector.”
“We believe that the unique, integrated direct lending solutions provided by Goji will create real differentiation in the asset management industry and will contribute to position direct lending as a major asset class for investors,” AXA Strategic Ventures managing partner François Robinet said. “Goji’s platform, based on differential technology, allows intermediaries both to easily build and manage an alternative credit portfolio and to smoothly manage the back-office operations. In addition, the management team’s proven background in the fin-tech space is well placed to grow and scale the company.”
“Confidence in direct lending as an asset class is picking up pace and the investment Goji has received from Anthemis and AXA Strategic Ventures, both highly regarded industry players, is testament to this,” said Goji CEO Jake Wombwell-Povey. “We believe we are in a perfect storm. Equities are considered by many to be overvalued, traditional fixed income and cash are yielding well below inflation and investors need a new solution. Within this context direct lending can deliver positive investor outcomes in a fairer, more purpose-driven way.”