Interview with Asger Trier Bing, CEO of Lendino

Interview with Asger Trier Bing, CEO of Danish service Lendino.

What is Lendino about?

  • Lendino is a marketplace lender for loans to SMEs in Scandinavia ranging from 20K-2M USD.

What are the three main advantages for investors?

  • Investors get a higher return than from similar asset classes.
  • Investors are enabled to invest in companies that appeal to them (CSR).
  • Investors can invest in their own local area or in a company of a friend.

What are the three main advantages for borrowers?

  • Borrowers get a lower interest on their loan, which will benefit them through decreased funding costs
  • It is faster and easier to apply for funding at Lendino than at a bank.
  • Borrowers can build a stronger relationship with customers who invest in their loans

What ROI can investors expect?

  • Investors should expect a net return of 5-8 percent

How did you start Lendino? Is the company funded with venture capital?

  • Lendino was launched in 2013 by Andreas Christensen and Asger Trier.
  • The vision is to improve finance.
  • The company has been funded by the founders until today.
  • A VC round is ongoing and is expected to close within 30 days.
  • It has a  mix of Danish and UK investors onboard.

Is the technical platform self-developed?

  • Yes
  • The CTO of Lendino is a PhD and former SimCorp employee and has developed the platform.

What was the greatest challenge so far in the course launching Lendino?

  • The regulation has been a major obstacle that Lendino has managed to overcome.
  • Lendino was the first platform to obtain a Payment institute license to operate in Scandinavia.

Which marketing channels do you use to attract invested and borrowers? Can you share the acquisition costs per customer?

  • Lendino uses a mix of private and professional channels to go to market.
  • The CAC is not available.

How is the Danish market different form the UK p2p lending market? Are there advantages/disadvantages (e.g. in regulation, credit scoring, …)?

  • The Danish market is very attractive as companies are very solvent but still highly underserved by the banks.
  • The companies are facing historically bad funding access.

Where do you see Lendino in 3 years? Is P2C Lending a threat to banks?

  • Lendino aims to be the number 1 marketplace lender in the Nordics within 3 years.
  • Lendino is a supplement to the banks and has already established partnerships with the established sector. thanks Asger Trier Bing for the interview.

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