Lendico makes its first international step and starts in Spain

2 months after launching in Germany, Lendico has started up in Spain

11 FEBRUARY 2014
Summary
2 months after launching in Germany, Lendico has started up in Spain, offering loans and undercutting offers provided by Spanish banks whilst creating attractive returns for investors: Spanish banks suffer under the effects of the financial crisis and cannot satisfy credit demand.

From today, the Berlin start-up Lendico has made peer to peer lending accessible in Spain. El Pais and the two leading business magazines, Expansion and Cinco Dias, report on Lendico’s launch in Spain. Maria Benito praises Lendico’s services in El Confidencial by stating it is "Cheaper than the bank".

“The credit crunch has made it very difficult to get its consumers to borrow from banks. Therefore, the Spanish market has great potential", says Dr. Dominik Steinkühler, founder and CEO of Lendico.

At Lendico, investors finance projects of those seeking assistance. Lendico is a win-win situation: Without a cashier’s desk and with innovative technology, Lendico undercuts the cost structure of banks and these savings are brought to both the borrowers and investors. Therefore, borrowers benefit from low lending rates and investors profit from attractive returns.

“Right from the beginning, Lendico was developed as the digital alternative to banks. The success of the first few weeks shows that this has been achieved ", stated Dominik Steinkühler. Since December, around 25 million euros in credit inquiries have been made on Lendico.de. "Not even ten percent of these have actually managed to be placed on lendico.de due to our strict quality requirements."

In the assessment of loan applications, the company set up in Spain also has its own algorithm that can evaluate real-time credit offers. The stringent requirements, regarding the quality of the borrowers, are primarily aimed at protecting investors. "For investors, Lendico is a new asset class, which allows investments from €25", says Dominik Steinkühler.

For Lendico cheap loans and attractive returns do not contradict each other: "We have established high standards of quality in the selection of borrowers because we always keep the interest of our investors in mind.

Due to cost advantages, Lendico can offer favorable interest rates and provides smaller loan amounts, which the banks cannot do ", said Dominik Steinkühler.

About Lendico

Lendico is a marketplace for loans from person to person. Without bank branches or a cashier's desk, Lendico’s investors and borrowers are both involved in saving costs. Both sides benefit from attractive terms.

Lendico allows investors to finance people and individual projects, and provides borrowers with the chance to fulfill their desires with the necessary funding. Simply, the marketplace helps to fulfill the needs of both sides. Borrowers do not want to spend their hard well-earned cash on excessive lending rates. Investors want high returns on their savings. Both groups meet together at Lendico. 

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About Lendico

LUnternehmensfinanzierungen. Schnell. Einfach. Günstig.

Lendico wurde 2013 in Berlin gegründet. Unser Ziel: Mittelständischen Unternehmen ermöglichen, ihr volles Potential zu realisieren. Mit schnellen, einfachen und flexiblen Firmenfinanzierungen. Unsere Motivation: Der Erfolg unserer Kunden.

Das Team hinter Lendico steht für ausgefeilte Technologie, ein tiefgreifendes Finanzverständnis, schlanke Prozesse, jahrelang angewandte Expertise und nicht zuletzt die Courage Neues zu wagen. Unsere Finanzexperten stehen als persönliche Ansprechpartner für alle Finanzierungsfragen zur Verfügung.

ING & Lendico

In den vergangenen 50 Jahren hat die ING in Deutschland bewiesen, dass sie anders ist. Und das beweisen wir auch – wenn auch noch nicht so lange. Deswegen sind wir überzeugt, dass sich die Unternehmensstrategie der ING in Deutschland und das digitale, sehr effiziente Geschäftsmodell von Lendico sehr gut ergänzen und wir zusammen stärker wachsen können.

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