INSUBCONTINENT EXCLUSIVE:
With this new influx of cash, the startup has one goal in mind
It wants to become the leading lending marketplace of Continental Europe.Idinvest and Allianz are leading the round, with CIR SpA (De
living in France, Spain and Italy can sign up to lend money to companies established in those three countries
But the startup is already working hard to expand to the Netherlands and Germany before the end of the year
There are now quite a few users and institutional investors on the platform
French, Italian and Spanish users are already willing to put some money in Dutch companies
For instance, the insurance company is going to promote Lendix to its corporate clients so that they think about Lendix if they need to
The company also has opened an office in Madrid and another one in Milan with local teams.Lendix is still a drop in the bucket compared to
But the company wants to differentiate its product offering from regular banks as much as possible.Right now, when a company requests a
After that, somebody calls the company to ask a few questions
You can now access the registry of commerce, the identification number database and important incorporation events
There are different file formats, and the same database uses different fields depending on the region of France.Lendix has been parsing all
this data to turn it into an actionable database
You could use Iris to detect some fraud patterns
For instance, a person could keep incorporating new companies and shutting them down quickly.Eventually, you could reach out to companies
before they need to apply for a loan
Netter mentioned a restaurant called Street Bangkok
Lendix Iris could spot those patterns.Lendix is still nowhere near as big as Funding Circle
Both can grow at the same time by competing with traditional banks.And it starts by being faster than a traditional bank
Companies get a rate within 48 hours
Banks will have a hard time giving you an answer so quickly.Disclosure: I share a personal connection with an executive at CNP Assurances.
