Lendico, PostFinance to roll out joint venture 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.

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.

Lendico brings borrowers and investors into direct contact. The company, founded in 2013 by Rocket Internet in Berlin, operates in eight countries worldwide, including the newly-launched venture in Switzerland. It was originally established purely as a credit marketplace for private individuals, but in 2015 it expanded its services to include corporate credit.

PostFinance is one of Switzerlands financial institutions. The company employs around 4,000 staff throughout Switzerland.

Crowdlending is a digital alternative to conventional corporate credit. Investors and borrowers can find each other directly on the online marketplace.