CreditMax receives growth equity
CreditMax, an electronic exchange for the sale and purchase of distressed consumer debt, announced it has received a growth equity investment from PPF Finance LLC, a subsidiary of PartnerRe Ltd. and Metropolitan Equity Partners.
The total value of new credit granted increased from R75.14 billion for the quarter ended September 2010 to R83.53 billion for the quarter ended December 2010, an increase of 11.17% when compared with the previous quarter, but 31.97% higher than a year ago.