Dec 2, 2013 (Mon): Rocket Internet has launched Lendico.de, an online site offering peer-to-peer lending in Germany.
“From the start, Lendico was developed as the digital alternative to banks,” says co-founder and CEO Dr. Dominik Steinkühler. “We challenge the monopolistic situation in the loans business. Lendico is a new way of financing personal loans and a new asset class.”
Lendico relies on an in-house designed formula to evaluate each borrowers credit risk and to set the loan rates in real time. Better rates and better returns, however, are not contradictory for Lendico: “We have established high quality standards when it comes to selecting borrowers, as we always keep the interest of investors in mind”, adds Dr. Dominik Steinkühler.