Santander Corporate and Investment Banking’s Private Debt Mobilization team has launched together with CrossLend a pilot with Santander Spain assets to mobilize Spanish SME and leveraged loans.
CrossLend is a Berlin-based digital debt marketplace providing technology for debt data handling as well as securitisation and distribution service.
This pilot is the very first step to build a private marketplace for assets distribution to investors. It could also become a new platform for intra-group asset rebalancing, by proactively mobilizing balance sheet assets and ultimately deploying ‘originate to share (OTS)’ business models.
The marketplace is intended to be a new distribution channel for small loans/portfolios coming from various businesses (retail, consumer, non-performing loans, etc).
CrossLend technology will enable a complementary channel for investors to access diversified investment opportunities to optimise yields, whilst developing a technology that can contribute to building the infrastructure for a Pan-European platform.
CrossLend’s marketplace brings an extra channel to connect Santander with the market, supporting existing settlement technologies and providing alternative settlement opportunities. It also enables implementing various applications to support new business activity (originate to share) and increases efficiency of existing businesses.
Mouro Capital, an autonomously managed venture capital fund focused on fintechs and adjacent businesses participated by Santander, invested in CrossLend in 2019.
Javier Rodríguez de Colmenares, global head of Private Debt Mobilitisation (PDM) at Santander CIB, said:
“This pilot is a good example of collaboration across divisions and geographies, which is an essential factor to continue embedding innovation into the organisation. Furthermore, this is a great opportunity to work with investees from Mouro Capital such as CrossLend, to move towards a future of more industrialised asset mobilization. In turn, this could provide more tools to all divisions of the group to accelerate their balance sheet rotation velocity, enhancing their return on capital.”
Manuel Silva Martínez, general partner at Mouro Capital, said:
“We invested in CrossLend under the hypothesis that their technology is able to make capital markets more efficient, transparent, and bring together more participants. The new products that Santander has successfully piloted bring in process efficiencies and product capabilities that are a breakthrough for the industry.”
Oliver Schimek, CEO and founder of CrossLend, said:
“The future of banking requires technology that industrializes today’s processes and allows the bank to offer services that seamlessly integrate value. We are proud to be part of Santander’s journey of digitizing the bank’s backend to prevail in the competition.”
About Banco Santander
(SAN SM, STD US, BNC LN) is a leading retail and commercial bank, founded in 1857 and headquartered in Spain. It has a meaningful presence in 10 core markets in the Europe, North America and South America regions, and is one of the largest banks in the world by market capitalization. Its purpose is to help people and businesses prosper in a simple, personal and fair way. Santander is building a more responsible bank and has made a number of commitments to support this objective, including raising over €120 billion in green financing between 2019 and 2025, as well as financially empowering more than 10 million people over the same period. At the end of the first quarter of 2021, Banco Santander had €1.1 trillion in total funds, 149 million customers, of which 23.4 million are loyal and 44.2 million are digital, 10,800 branches and 190,000 employees.
About Santander Corporate & Investment Banking
(Santander CIB) is Santander’s global division that supports corporate and institutional clients, offering tailored services and value-added wholesale products suited to their complexity and sophistication, as well as to responsible banking standards that contribute to the progress of society.
CrossLend is a FinTech company that provides full spectrum technology for loan asset transactions. Its mission is to make the world’s lending and investment ecosystem more efficient, transparent, and profitable. Supervised by BaFIN and CSSF, CrossLend is backed by an array of prestigious equity investors from Europe and the US, including Mouro Capital (formerly Santander InnoVentures), Lakestar, CME Ventures, Earlybird, ABN AMRO’s Digital Impact Fund, and the Luxembourg Future Fund (EIF and SNCI). For more information, visit crosslend.com
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