Marketplace lending platform LEND successfully closes series A financing round
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Zurich-based fintech LEND powers ahead and closes a CHF 6 million series A financing round. The funding round was backed by Alpana Ventures and angel investors.
Florian Kübler, CEO and co-founder of LEND: “Our successful track record remains convincing. In addition to existing investors, who have supported us since the beginning, we were able to attract new investors.”LEND is a Swiss-based marketplace lending platform that empowers borrowers to obtain loans at better rates while enabling lenders to direct their own loan investment opportunities. With the newly raised funds, the fintech will further advance the digitization of its platform, professionalize new business areas and secure institutional credit facilities to finance loan projects.
Boosted by its strong track record in private and student loans, the startup now offers financing solutions for SMEs and transacts 2nd lien mortgages. The new business areas have taken off exceptionally well and LEND is driving the expansion through existing partnerships and direct channels. Meanwhile, control of creditworthiness remains a top priority for the company, which translates into an exceptionally low default rate (below 0.5%).
Already mainstream in the UK, marketplace lending has now arrived in Switzerland. LEND cooperates with several pension funds, family offices and banks, which are increasingly funding credit projects. Retail investors remain an important component however, and the fintech will continue to be open for them in the future.
Florian Kübler just came back from the week-long Venture Leaders Fintech roadshow in New York: “The Venture Leaders program gives your startup the opportunity to shine in front of Swiss investors, US VC's and other Swiss startups. The organization is second to none!” As captain of the Swiss National Fintech Team, he shared his impression of the roadshow in a report. Don’t miss his report!
