Noerr has advised the Lendico Group, a specialist in business lending, on the first major takeover of a fintech company by a bank in Germany.
The buyer is ING Deutschland GmbH, the parent company of ING-DiBa AG. The parties have agreed not to disclose the purchase price.
The Noerr team which advised on this transaction was headed by the Partner Hans Radau and the Senior Associate Armin Bartsch. Both have extensive expertise in advising fintech companies and have, besides Lendico, advised the online lending platforms Zencap and Spotcap and the Chicago fintech company Joinesty on its European market entry.
Lendico brings borrowers and investors together on an online platform offering fully digitalised lending. The company has gained over 350,000 users since being set up in 2013.
Lendico has relied on Noerr’s advice since its establishment. Noerr has in the past advised the company comprehensively on the legal implementation of its business model, compliance with all regulatory requirements, several financing rounds, the participation of platform investors and its international roll-out. Acting as lead counsel, Noerr also coordinated the international law firms retained by the Lendico Group for this deal.
Hans Radau and Armin Bartsch recently also advised the digital consulting company etventure on its takeover by Ernst&Young.
