P2P tech provider Q2 puts sale on hold

A technology provider that provides software for financial firms including peer-to-peer lending platforms, has put its sale on hold after obtaining takeover offers below expectations.

Fintech firm Q2 Holdings saw interest from private equity firms looking to acquire the firm earlier this year.

Its shares rose by 22 per cent on May 17 after Bloomberg revealed the software provider was considering its options.

However, according to several reports, the offers received were below the company’s expectations. As a result, the sale will be put on hold.

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The New York Stock Exchange-listed firm, which went public in 2014, works with banks, and also provides origination capabilities for financial institutions including P2P lenders, which wish to originate loan transactions.

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The company has worked with at least one UK-based P2P lending platform to help them engage with clients and investors, manage the origination process and book and manage deals.

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