Lendico begins lending in Brazil

The international marketplace for online borrowers and investors has announced its incorporation of Brazil, just weeks after completing a $21.9 million financing round.

With transparent terms and conditions and excellent service, Lendico has already recruited more than 250,000 users, and will now be expanding into the Latin American department as the company keeps growing.

"We have gained a strong local partner with Banco BMG in Brazil that enables an ideal market access," Dominik Steinkühler, founder and managing director of Lendico, said. "The time has come for change in credit markets to make better products accessible to borrowers."

As the first German credit marketplace, Lendico offers investors the opportunity to invest in international loan projects. Marcelo Ciampolini, managing director for Lendico Brazil, said the country’s banks and lenders are notorious for giving borrowers extremely high interest rates, but with Lendico’s cost structure and by staying 100 percent online, they are able to offer borrowers significantly lower rates.