- This financing will make it possible to supplement Lendix’s co-investment fund, dedicated to the financing of French, Spanish and Italian SMEs and VSEs.
- The latter will thus be endowed with 90 million euros.
- Last year, Lendix claims that 45 million euros were loaned through its platform.
Lendix / October, a platform specializing in lending to SMEs, is adding a string to its bow. French FinTech has just concluded a partnership with the European Investment Bank (EIB). As part of this agreement, the EIB’s European Investment Fund will match Lendix’s co-investment fund with € 18.5 million, dedicated to financing French, Spanish and Italian SMEs and VSEs. The latter will thus be endowed with 90 million euros.
Founded in 2014 by Olivier Goy, Lendix offers individuals the opportunity to lend money to small and medium-sized businesses. According to its figures, more than 10,000 individual lenders are registered on its platform. In 2016, the French FinTech was strengthened by acquiring its competitor Finsquare, while it also has to face competition from other crowdfunding platforms, such as SmartAngels and Unilend.
45 million euros loaned to Lendix in 2016
By joining forces with the European Investment Bank, Lendix intends to attract new investors to its platform. Last year, the company claims that 45 million euros were loaned through its platform.
This is not the first time that the EIB has supported a crowdlending player. In June 2016, the institution granted £ 100 million in funding to the British Funding Circle. Since 2010, London-based FinTech says nearly £ 2.5 billion has been loaned to UK SMEs through its platform.