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Lendico and PostFinance Launch Joint Venture in Switzerland
Lendico, the online crowdlending marketplace which operates internationally, is moving into the corporate credit market in Switzerland. It is making this step in collaboration with the Swiss PostFinance, which will be a joint venture partner in Lendico Schweiz AG.
The international online credit marketplace Lendico is continuing its expansion in Europe by founding Lendico Schweiz AG on 8 July 2016. From the last quarter of 2016 onwards, the company will facilitate crowdfunding for small and medium-sized enterprises (SMEs) in Switzerland. It is entering the market in close collaboration with PostFinance, a subsidiary of Schweizerische Post. With a balance sheet total of more than 119 billion Swiss francs PostFinance is among the five largest Swiss banks and the market leader regarding payment transactions.
Together the partners would like to establish a new form of SME financing in Switzerland. The aim of the joint venture is to provide the numerous Swiss SMEs with a modern alternative to traditional bank financing. The two partners are contributing their complementary expertise in customer contact and the entire lending and repayment process to the joint venture.
A milestone in the expansion of an international credit marketplace
“With 110 years of experience in Swiss banking services and around three million customers, we can think of no better partner than PostFinance for our entry into the Swiss market. As part of the continued expansion of an international credit marketplace, this joint venture represents a significant step in our business development,” says Dr Dominik Steinkühler, co-founder and managing director of Lendico.
From niche status to the mass market
Hansruedi Köng, CEO of PostFinance, is delighted to be able to join forces with Lendico, a partner which has established itself and enjoyed success internationally in a rapidly expanding industry. “Our vision for this cooperation is to take crowdlending in Switzerland from niche status to the mass market. The combination of Lendico’s innovative capacity and our structures in Switzerland offers the best conditions for Lendico Schweiz AG to become a market leader in the future.”
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