France-based SME lending marketplace Lendix has received its formal CNMV accreditation to operate as a P2P lending platform in Spain.
In April 2016, Lendix completed a Series B financing round of EUR12 million led by major institutional investors including CNP Assurances, with the objective to become a leading Continental Europe actor of P2P SME financing with major ambitions in France, Italy and Spain.
The Spanish entity will be the first Lendix international market to open. It will target financing of credits to SME, for amounts ranging from EUR30,000 to EUR2 million, duration of 18 to 60 months and at interest rates comprises between 5.5 per cent and 12 per cent.
Companies presented on the platform will be selected and analysed by Lendix credit analysis team and will need to generate a turnover of at least EUR400,000. Non accredited private investors will be able to lend up to EUR3,000 per project with a total maximum yearly amount of EUR10,000, while no limit will apply to accredited private investors nor institutional investors.
“We’re delighted that Lendix is authorised to operate as a crowdlending marketplace under the new regulated environment in Spain,” says 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.
“Spain is a high potential market with a network of companies that benefit from the rebound in the economy. Crowdlending as a new source of funding for SMEs, has the ability to contribute further to this dynamic. Thanks to the green light from the Spanish regulator, Lendix is now in position to put in motion its launch plan with the creation of a Spanish entity and the recruitment of a local team.”
Lendix will recruit six persons in Spain in 2016 and consider 10 additional hires over 2017. The launch of the Spanish platform is scheduled for Q4 2016.
