Berlin startup factory targets peer lending market

Dec 01, 2013

Serial startup firm Rocket Internet is targeting the growing market for peer-to-peer lending with the launch of a new site in Germany.

Berlin-based Rocket Internet says the site called lendico.de will link up private lenders and consumers seeking loans of 1,000-25,000 euros ($1,360-$34,000).

The market for so-called peer-to-peer loans has grown rapidly in recent years with sites such as Prosper.com and Zopa.com among the biggest incumbents.

Lendico said Sunday that interest rates on loans would start at 2.99 percent. That is about half the typical rate of consumer in Germany, Europe's biggest economy.

Spokesman Lukas Jaworski says the company aims to expand to other European countries next year.

Privately-held Rocket Internet specializes in copying successful business ideas.

Its portfolio includes more than 75 companies with over 25,000 employees worldwide.

Explore further: Visa, MasterCard moving into mobile pay in Africa

5 /5 (2 votes)
add to favorites email to friend print save as pdf

Related Stories

Google takes stake in Lending Club

May 02, 2013

Internet giant Google said Thursday it has acquired a $125 million minority stake in peer-to-peer online loan company Lending Club.

Berlin startup scene gets nod from Google (Update)

Nov 13, 2012

Berlin's budding Internet entrepreneurs received the closest thing to an industry endorsement Tuesday, with a €1 million ($1.3 million) investment from Google Inc. for a new 'hub' where startups can work, ...

SAP profits up 23 percent as cloud computing grows

Oct 21, 2013

Business management software company SAP AG says net profit rose 23 percent in the third quarter as its cloud computing business grew rapidly and the company kept down costs by holding down hiring of new employees.

Recommended for you

Visa, MasterCard moving into mobile pay in Africa

19 hours ago

Americans may just be getting used to mobile pay, but consumers in many African countries have been paying with their phones for years. Now payment processors Visa and MasterCard want to get a slice of that market, and are ...

Wireless show highlights: Eyes on Apple, Blackberry

20 hours ago

As a major wireless show continues this week in Barcelona, Spain, Apple is highlighting the capabilities of its iPhone cameras with a gallery of photos taken by its users around the world.

Venture capitalist testifies in Silicon Valley sex-bias suit

Mar 03, 2015

A prominent Silicon Valley venture capitalist who helped direct early investments in Google and Amazon said Tuesday during testimony in a high-profile sex discrimination lawsuit that his firm is not run by men and has many ...

User comments : 0

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.