SolarisBank gets into bed with Lendico

Source: Lendico

Lendico, the international peer-to-peer lending provider for small and mediumsized enterprises (SME), has concluded a cooperation with solarisBank, the first digital banking platform with a full banking licence.

The two Berlin-based fintechs have concluded a long-term collaboration for financing SME loans. To begin with, solarisBank is providing an eight-digit sum for financing loans via Lendico. There are plans to expand the commitment in the medium-term.

Dr. Clemens Paschke, co-founder and managing director of Lendico, commented: "We are currently seeing strong demand for loans from SMEs which feel inadequately served by conventional banks despite the good economic conditions. In conjunction with solarisBank, we provide bespoke lending solutions for our customers, and will also be developing new lending options."

Marko Wenthin, co-founder and CCO of solarisBank, added: "As a banking platform, our aim is to support the business models of innovative finance companies like Lendico as effectively as possible. We do precisely that by financing SMEs through two digitalised platforms. Cooperations such as the one between Lendico and solarisBank 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 EUR 100 million. In continental Europe, Lendico focuses solely on corporate loans. solarisBank's involvement illustrates the huge amount of interest among investors in providing capital for this target group. The maximum loan amount for corporate customers is EUR 250,000, and CHF 500,000 in Switzerland.

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