P2P Lending marketplace Lendico today announced the launch of its marketplace in Brazil.
In May Lendico closed a 20M round to grow the international offering of consumer and SME p2p loans. Now Lendico wants to develop the important Brasilian loan market.and has partnered with Banco BMG.
Lendico CEO Dominik SteinkÃ¼hler, said: ‘In Brazil we have won Banco BMG as a strong local partner. This allows us an optimal market entry. Time is ripe for a change on the loan markets to enable borrowers access to better products’.
Marcelo Ciampolini, CEO Lendico Brazil added: ‘In the brazilian market banks are demanding enormous interest rates from borrowers. With our lean cost structure – 100% online, no branches and with innovative technology – we can hand over these cost advantages to the borrowers and offer then better terms. We offer a fast, burden free access to the best interest rates in the markets’. (original quotes provided by Lendico translated by me from German into English language)