Lendix, the number 1 SME marketplace lender in France, has announced today that it has completed the acquisition of competitor Finsquare, the short term loan specialist platform.
"Finsquare’s product addresses a real demand from lenders and borrowers alike. It fits perfectly with our current offering, which is focused on longer term loans and financial leases . It’s a logical expansion of our range of financing solutions for SMEs" declares Olivier Goy, founder and CEO of Lendix.
Finsquare, the short term loan specialist platform, created in 2014 by Polexandre Joly et Adrien Wiart, has a community of 3,500 active lenders who have lent more than €4m since the launch. Polexandre Joly, co-founder and CEO of Finsquare, adds : "We’re convinced that the acquisition of Finsquare by Lendix is a great opportunity for our community of lenders, which will also allow us to focus on growing our GoCreditPro business line."
Existing Finsquare lenders will migrate to the Lendix platform, where they will have access to their existing loan portfolios and to new loan offerings. Finsquare had put in place a lender protection insurance scheme, and the loans which are protected today will continue to be. However the insurance won’t cover loans introduced on the marketplace after the acquisition. « We will have more announcements to make on lender protection during Q2 » adds Patrick de Nonneville, COO of Lendix.
Taking stock of the large financing needs of entrepreneurs, Polexandre Joly and Adrien Wiart have decided to accelerate the growth of the first internet broker plateform for loans, leasing, factoring and flexible credit lines, Gocreditpro, offering a wide product range of products for companies. Lendix and GoCreditPro will continue to work together improve SMEs’ access to financing.