Lendico starts lending in Brazil

17 JULY 2015
A few weeks after completion of a EUR 20 million financing round, Lendico is expanding its international presence to Latin America

São Paulo / Berlin July 2015 - Lendico, the international online marketplace for borrowers and investors, now also enters Brazil to revolutionize the credit market. After already convincing more than 250,000 users with transparent lending terms and excellent service, Lendico keeps on growing. In May Lendico successfully completed a EUR 20 million financing round to advance its international offering for private and business loans. With Brazil Lendico is now up to conquer one of the major international credit markets. In a partnership with Banco BMG, Lendico will offer the best alternative for cheap and quick loans in Brazil.

Dr. Dominik Steinkühler, founder and managing director of Lendico: "We have gained a strong local partner with Banco BMG in Brazil that enables an ideal market access. The time has come for change in credit markets to make better products accessible to borrowers."

As the first German credit marketplace Lendico offers investors the opportunity to invest in international loan projects. "Due to the low interest rate policy of the ECB, we have experienced strong investor demand for the Brazilian market," said Dominik Steinkühler.

Marcelo Ciampolini, managing director of Lendico Brazil: "In the Brazilian market banks charge extremely high interest rates to borrowers. With our lean cost structure - by 100% online, without bank branches but with innovative technology - we can pass on the cost benefits to the borrowers and offer a significant competitive advantage. We offer fast, simple access to the best interest rates in the market. "

The selection of the borrower and the use of risk-adjusted pricing models are important aspects to offer the best rates in the market. Marcelo Ciampolini: "Lendico reaches borrowers that are priced incorrectly by banks. Often borrowers with a solid profile and good credit history have to pay overpriced rates because they have to compensate banks’ bad debt write-offs caused by bad payers. With our most advanced scoring we have a more efficient assessment of credit quality. So from the very beginning we are more strict in loan acceptance and do not cover the entire spectrum of applicants. Along with our partner bank, this allows us to offer loans at better rates that are a more favorable and reliable alternative compared to the prevailing very expensive credit cards. "

About Lendico

Lendico is the digital and fast alternative to banks (https://www.lendico.com/). The online marketplace for business and consumer lending directly connects borrowers and investors. Lendico operates completely online with no branch network and relies on proprietary technology to reduce costs and optimize the handling of loan applications. This allows Lendico to offer great rates to businesses and individuals as well as attractive returns for investors. Since its launch in December 2013 Lendico has gained the trust of more than 250,000 users and has repeatedly been nominated as best credit marketplace in Germany.

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About Rocket Internet

About Rocket Internet

Rocket Internet incubates and invests in Internet companies with proven business models. It provides operational support to its companies and helps them scale internationally. Rocket Internet focuses predominantly on four industry sectors of online and mobile retail and services that make up a significant share of consumer spending: Food & Groceries, Fashion, General Merchandise and Home & Living. Rocket Internet’s selected companies are active in a large number of countries around the world with more than 28,000 employees. Rocket Internet SE is listed on the Frankfurt Stock Exchange (ISIN DE000A12UKK6, RKET). For further information please visit www.rocket-internet.com.