" class="no-js "lang="en-US"> Banco BNI Europa (“BNI Europa”) partners in Spain with Lendrock to provide financing to consumers looking to buy a car. Banco BNI Europa will invest up to 15 million Euro on this online financing platform that specializes in near prime consumer auto financing. - Fintech Finance
Thursday, June 01, 2023
Point Zero Forum

Banco BNI Europa (“BNI Europa”) partners in Spain with Lendrock to provide financing to consumers looking to buy a car. Banco BNI Europa will invest up to 15 million Euro on this online financing platform that specializes in near prime consumer auto financing.

In the wake of the agreed partnership, Lendrock will continue its growth trajectory. The partnership with Banco BNI Europa is starting with the acquisition of part of the existing loan portfolio, offering fast exposure to Lendrock’s loans and setting the stage for the acquisition of monthly origination volumes.

Investing in asset backed auto loans to consumers in Spain is a very attractive class of investment to us”, says Pedro Coelho, Executive Chairman of Banco BNI Europa. “With the Lendrock team, we have identified a highly professional partner, whose credit analysis process has proven totally convincing to us.

And Lendrock’s co-Founder and CEO, Ventura Pobre, is equally convinced about the partnership: “We are delighted at finding in Banco BNI Europa both a top tier institutional investor and a strategic partner to our platform, who, like us, is excited by the potential to drastically improve the car financing experience to all consumers, including those that need it most. Having developed our 100% online integrated financing platform and with Banco BNI Europa support, we are now ready to drive the scale up process and make a big a difference to many more consumers looking to finance a car.

  1. Klarpay AG Enhances Global Payment Solutions with Local ACH Payments in 40+ Currencies Read more
  2. iProov Achieves UK Government Digital Identity and Attributes Trust Framework Certification Read more
  3. New Independent Research Study Reveals Majority of Global Financial Institutions Are Unable to Respond Effectively to Fraud and Financial Crime Read more
  4. Digital banking fintech Meniga appoints Dheeraj (Raj) Soni as CEO Read more
  5. FintechOS leads fintech enablement with 70% YOY revenue growth, North America launch with five banks, and 300% insurance revenue growth Read more