German crowdfunding platform Fintech Marvest has launched its second ship-financing project.

The company said it was seeking investors to raise EUR 350,000 ($394,000) to back the 5,800-dwt general cargoship FL Levante (built 2005).

The vessel appears to have been acquired from Donau HS Schiffahrts by FL Schiffahrt, on whose behalf Marvest is arranging the finance.

VesselsValue assesses the ship as worth $3.04m.

Investors do not acquire a limited partnership share in the project, but grant a subordinated loan of a minimum EUR 500.