French Marketplace Lender Lendix Receives Spanish Regulator Approval

Hola Espana SpainLendix, a top SME marketplace lending platform in France, has received regulatory approval from the CNMV and is now ready to set up shop and operate in Spain. The announcement was not unexpected as Lendix had raised € 12 million earlier this year for their international expansion into Spain, as well as Italy. Lendix wants to become a “leading European peer to peer SME financing platform.”

“We’re delighted that Lendix is authorized to operate as a crowdlending marketplace under the new regulated environment in Spain,” stated Olivier Goy, founder and president of Lendix. “For Lendix, working in a clear regulatory environment is paramount and we are even more honored, as an international platform, to be allowed to operate in Spain.”

Lendix stated it will recruit a 6 person team in Spain during 2016 and may add up to 10 more hires in the country during 2017.  The platform launch is scheduled for Q4 of 2016. Lendix describe the regulatory environment in Spain as “building a clear and favorable environment to support the development of this Fintech sector.” Lendix also stated that one of the key elements of the regulation was to implement a complete accreditation process for all platforms willing to launch or to continue operations in Spain. During the end of June 2016, the CNMV completed its first round of accreditation allowing the development of crowdfunding platforms on the Spanish market.

The Spanish operation is the first market for Lendix outside of France. The company said it will target financing of credits to SME, for amounts ranging from €30,000 to €2,000,000, from terms of 18 to 60 months. Current interest rates are expected to be between 5.5% et 12%. All loan applications via the platform will be analyzed by a Lendix credit analysis team. Companies will need to generate a turnover of at least €400,000 per year. Non-accredited private investors will be able to lend up to €3,000 per project with a total maximum yearly amount of €10,000. There is no limit for accredited private investors nor institutional investors.

Olivier goyGoy qualified Spain as a “high potential market” for Lendix.

“Crowdlending as a new source of funding for SMEs … Thanks to the green light from the Spanish regulator, Lendix is now in a position to put in motion its launch plan with the creation of a Spanish entity and the recruitment of a local team,” said Goy.



Sponsored Links by DQ Promote