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
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
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