The platform links lenders and borrowers, with interest rates starting at 2.99 %. Loans are available to borrowers for amounts between EUR 1,000 and EUR 25,000.
Lendico relies on an in-house designed formula to evaluate each borrower’s credit risk and to set the loan rates.
Lendico employs more than 50 people with diverse backgrounds in the banking, design and start-up industry.
In recent news, iMENA, a regional group of consumer online businesses in the Middle East and North Africa (MENA) region, has entered a partnership with Rocket Internet to launch the latter’s mobile taxi app dubbed ‘Easy Taxi’ in the Middle East.
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