Update - N1 raises $22 million to expand commercial lending operations

N1 Holdings Limited (ASX: N1H or the Company) is pleased to update the market in respect of its commercial lending operations.

Further to the OneLend update (the Company’s short-term SME loan product) released to ASX on 31 October 2019, the Company is pleased to report that from 18 November 2019, the Company will have over $22 million in capital committed for its commercial lending operations. This amount comprises $14.8 million raised by One Lending Fund and $7.4 million from the Company’s balance sheet.

One Lending Fund is an unregistered managed investment scheme and open only to wholesale investors.

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