Germany: Rocket Internet launches peer-to-peer lending service

Monday 2 December 2013 08:50 CET | News

Rocket Internet, a Germany-based online startup incubator, has launched a peer-to-peer lending service dubbed Lendico.

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.

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: Germany, Rocket Internet, peer-to-peer lending, Lendico
Categories: Banking & Fintech
Countries: World
This article is part of category

Banking & Fintech

Industry Events