Lendico debuts cross-border P2P loan platform

Source: Lendico

Since the 2008 Banking Crisis, it has become extremely difficult for high quality borrowers to get a loan and for return-seeking investors to earn high rates of interest.

Lendico identified this opportunity of mutual interests and now connects borrowers and lenders across borders. “The fact is, the disparities between countries are much greater than those on a national level. Borrowers from high-interest countries are in need of foreign investment just as investors in low-interest countries are looking for loan investments with higher returns.” explains co-founder Dominik Steinkühler

As a first step, German investors can now invest in Spanish loans, with returns up to 19,60%, considerably higher than what investors can expect in Germany. Lendico has already received 500 million euros in loan demands in 2014 and is receiving thousands of new requests every week. Lendico is established on a well-known principle: you can earn around 6,5% with a savings account but banks regularly lend out money to borrowers at rates sometimes higher than 20%. There is a lot of room in-between.

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