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: Shutterstock expands to Europe with German office

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

Microsoft sues Samsung alleging contract breach

6 hours ago

Microsoft on Friday sued Samsung in federal court claiming the South Korean giant had breached a contract over cross-license technology used in the fiercely competitive smartphone market.

Apple closes acquisition of Beats music

13 hours ago

Apple said Friday it closed its $3 billion deal for Beats, the high-end audio equipment and streaming music service, a tie-up that could allow the iPhone maker to reach new audiences.

User comments : 0