Swiss financial services provider PostFinance has joined forces with peer to peer lender Lendico to offer crowdfunding in Switzerland.
Lendico’s joint venture with PostFinance will offer crowdfunding for small and medium-sized enterprises (SMEs) in Switzerland as an alternative to traditional bank financing from the last quarter of 2016.
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Lendico co-founder and managing director Dominik Steinkuhler said: "With 110 years of experience in Swiss banking services and around three million customers, we can think of no better partner than PostFinance for our entry into the Swiss market. As part of the continued expansion of an international credit marketplace, this joint venture represents a significant step in our business development."
PostFinance CEO Hansruedi Kong added: "Our vision for this cooperation is to take crowdlending in Switzerland from niche status to the mass market. The combination of Lendico's innovative capacity and our structures in Switzerland offers the best conditions for Lendico Schweiz AG to become a market leader in the future."
Lendico was established in 2013 by Rocket Internet in Berlin, and currently has operations in eight countries across the globe.
PostFinance is a subsidiary of Schweizerische Post, and currently has a balance sheet total of over CHF119bn.
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