Lendico Quietly Stops Origination of New Consumer Loans in German Market

Without any public announcement Lendico has stopped to originate new consumer loans in the German market sometime in the past weeks (months?). Instead it has embedded a loan application tool of Finanzcheck in the Lendico website and refers interested borrowers to this company. Lendico told inquiring investors that the company will focus on loans to businesses in Germany. As far as I know, Lendico has not published any recent figures on loan volume origination. On Dec. 7th, 2016 Rocket Internet SE published its financial report for the first half of 2016. There is a short mention that Rocket Internet SE has booked a ‘Wertminderungsaufwand’ (own translation: decline in value) of 19.482 million EUR for the corporate holding of Lendico.

Two months ago Lendico stopped issuing consumer loans in the Netherlands. Earlier the company stopped issuing new loans South Africa. The status of the Lendico operation in Austria seems unchanged to me – at least the website is unchanged and allows applications for consumer loans in Austria.

The only real visible development in the past months was the launch last week of the joint venture between Postfinance and Lendico in Switzerland.

UPDATED: An earlier version of this article had incorrect information about the status of Lendico Brazil

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