About Grow.ly

About company

Launched in 2014, Grow.ly is an online, P2P crowdlending platform that enables small investors to lend directly to SMEs, financing their growth projects and contributing to their development while getting better returns on their savings. Loans are provided by several investors who make different offers. After the completion of the auction period and the amount requested being reached, bids from lowest to highest interest rates are selected. Grow.ly receives commissions from borrowers once they sign the loan, which can vary from 2% to 3.5% depending on the amount and period of the loan. It also charges investors with a 0.85% annual servicing fee. It is based in Madrid, Spain.