P2P-Banking reports that the bank ING Diba has acquired the marketplace lender Lendico; the company had challenges in Germany where it is based and also had shifted from consumer to SME Lending. Source
According to P2P-Banking, Lendico has stopped originating consumer loans in Germany; website is referring consumer loan borrowers to Finanzcheck, but the company is still offering business loans in Germany; company has also ended consumer loans in the Netherlands and stopped new loan originations in Brazil and South Africa; recent activity from the firm includes an announcement last week regarding a joint venture with Postfinance in Switzerland. Source
The two companies are both based in Berlin and will collaborate on SME loan financing; solarisBank has initially provided an eight digit investment for financing loans on the Lendico peer-to-peer lending platform; Lendico launched in 2014 and has total lending volume of over EUR100 million. Source