Lendico and SolarisBank team up for SME lending
SolarisBank is providing an “eight-digit sum” for financing loans via Lendico
The Berlin-based duo of peer-to-peer lending provider Lendico and fintech firm SolarisBank are working together on a long-term collaboration for financing SME loans.
To begin with, SolarisBank is providing an “eight-digit sum” for financing loans via Lendico – with unspecified plans to expand this commitment in the medium-term.
Dr. Clemens Paschke, co-founder and managing director of Lendico, says there is a “strong demand for loans from SMEs” and with SolarisBank it can provide “bespoke lending solutions for our customers, and will also be developing new lending options”.
Marko Wenthin, co-founder and chief commercial officer of SolarisBank, says via its banking platform, its aim is to support the business models of firms like Lendico and “show that traditional banking transactions can be structured more efficiently and in a much more user-centred way by decoupling from the bank institution”.
The Lendico platform went live at the start of 2014, and has been used for transactions with a total lending volume of over €100 million. In continental Europe, Lendico focuses solely on corporate loans. The maximum loan amount for corporate customers is €250,000, and CHF 500,000 (€440,000) in Switzerland.
According to SolarisBank, its involvement illustrates the “huge amount of interest” among investors in providing capital for this target group. It’s probably not wrong. Outside of Germany, many others are looking to tap into this SME market. Iwoca and Intesa Sanpaolo in Italy, and NatWest in the UK, are just two examples of similar plans.
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