lendico

New Figures on Lendico and Zencap

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Lendico and Zencap are German p2p lending services. They are separate companies, but both are founded/backed by Rocket Internet.

Lendico

Lendico is a p2p lending service with consumers as borrowers and has been rolled out in 6 national markets so far. See my previous articles on Lendico for more details. Lendico management did not give any official figures on loan origination amounts in the past. That’s the reason that Lendico is not included in my monthly loan volume stats tables. But in the context of the Rocket Internet IPO some figures and estimates became available.
An estimate says that Lendico Germany originated 1 million EUR loan volume in the first 6 months of 2014. The following are hard (official) figures:

  • Lendico loan volume stats for month ending Jan, 31st 2014: 2,343 loan applications received, 23 loans issued, 112K EUR loan volume originated
  • Lendico loan volume stats for month ending June, 30st 2014: 5,675 loan applications received, 65 loans issued, 376K EUR loan volume originated
  • Lendico number of unique visitors in month ending Jan, 31st 2014: 46K
  • Lendico number of unique visitors in month ending Jun, 30st 2014: 143K
  • Lendico net loss in 2013 was 3.2 million EUR. Note that Lendico launched in Dec. 2013
  • Rocket Internet states Lendico valuation to be 120 million EUR in July 2014

Based on non-representative lender postings on the Lendico forum at P2P-Kredite.com it seems that no Lendico (Germany) loans have defaulted yet and only very few have gone temporarily overdue. Continue reading →

P2P Lending Service Lendico Launches in Dutch Market

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Lendico entered its 6th national market and launched Lendico.nl  in the Netherlands today. Lendico CEO Dominik Steinkühler commented: ‘Especially in countries with a well developed banking system Lendico is successful. The Lendico users include those who are dissatisfied with banks and do not understand why they should pay for bankers’ bonuses, glass towers, business class flights and more benefits to bankers. Our target audience is looking for alternatives, that offer them better returns or cheaper loans.’

(Source press release; own translation from German)

Lendico Launch in South Africa

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Today p2p lending service Lendico is launching in South Africa, the first non-European market for Lendico. The start-up is launching through Africa Internet Holdings (AIH) – an e-commerce development platform supported by Rocket Internet, Millicom International and MTN. AIH co-founder Jeremy Hodara said South Africa matches the 3 criteria Lendico looks for in new markets:

  • The country needs good financial infrastructure, with all the necessary components in place
  • There needs to be an expanding online population, with adequate Internet penetration
  • There needs to be a demand for personal loans

(Sources: Lendico, BusinessTech.co.za)

Lendico Launches P2P Lending in Austria

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Today Lendico launched the p2p lending service in Austria. It is the fourth country Lendico enters after Germany, Spain and Poland. Austria is pristine territory for p2p lending. Up to now no services were available to Austrian borrowers. Interest rates range from 2.99% to 15.99% (comparable to Lendico Germany) depending on credit grade. Loans are possible up to 25,000 Euro for terms between 1 and 5 years. Lendico uses services of CRIF and Austrian Post for identification and credit rating.
Right now there are 3 loan listings online.

P2P Lending Service Lendico Launches in Poland

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Today Lendico launched its p2p lending service in Poland. Poland is the third market Lendico serves, after Germany and Spain. Loan amounts can be between 1,000 and 50,000 PLN (approx 16,400 US$). Loan terms are from 1 to 5 years and interest rates range from 5.82% to 14.99%. Currently there are 8 open loan listings. Lendico maintains an office in Warsaw. There are already other p2p lending service operating in Poland (e.g. Kokos and Finansowo – which in 2010 merged with Smava Poland).

From the polish press release:

Na polskim rynku finansowym pojawił się nowy gracz: Lendico. To nowoczesna platforma pożyczek społecznościowych, która w bezpieczny sposób łączy pożyczkobiorców z osobami zainteresowanymi korzystną lokatą własnego kapitału. Dzięki temu pozwala uzyskiwać pożyczki na korzystnych warunkach oraz daje perspektywy inwestycji o wysokiej stopie zwrotu. W ten sposób Lendico oferuje produkt niedostępny dla klientów tradycyjnych banków.


Lendico Poland screenshot taken today

Lendico Launches P2P Lending in Spain

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German p2p lending service Lendico will launch tomorrow in the Spanish market. ‘Spain is an attractive market with great potential due to the credit crunch since 2007,’ says CEO Dominik Steinkühler. Maximum possible loan amount is 25,000 EUR, offered at between 6.29% and 25% APR.

‘Lendico poses a direct threat to the comfortable position of traditional banks in the market. From the beginning Lendico was developed as a digital alternative to the banks,’ says Steinkühler.

The safeguards and regulations are similar to those of any bank. Lendico is a member of the National Association of Financial Credit (ASNEF) Establishments and works directly with Equifax for risk management and control of delinquency.

As reported earlier, all registered Lendico lenders, not just Spanish residents, will be able to lend.

Spain is the first international market Lendico expands into after launching in Germany in December 2013. While some functions are operated from the Berlin head office there is also an office in Madrid there. And Lendico says the team in Madrid is working on launching the service in South America.