Lendix, one of the premier peer to peer lending platforms in continental Europe, published a letter last week sharing what to expect in 2018 and reflecting on the past year. Their third Open Letter first tackled promises from the year prior.
According to their recollection, Lendix sought to acheive the following goals during 217:
- Keep risk low and grow our origination
- Continue their model of bringing together retail and institutional investors
- Transform their loan application process
So how did they do?
A self critique indicates not too bad.
Lendix reported that older vintage loans (including 2015 and 2016) are maturing slightly better than expected. They said ther were confident they haven’t compromised on risk but still exceeded the €140 million in lending, a hurdle they wanted to reach. Lendix maintains the top spot when it comes to online lending in France. Lendix also says they are #1 as the most active platform in Continental Europe for the first time this year.
As for combining individual investors with institutional ones, Lendix reports they have topped 10,000 active retail investors. Their goal of raising €75 million was easily beat as €90 million + came in. The French Banque Publique d’Investissement, European Investment Bank and European Investment Fund were the first public entities lending on Lendix.
Regarding “Credit v2”, code for big tech development to transform loan application process, Lendix admitted to falling short.
“We’ve been delayed here by the need to build the foundations of our country platforms, but as the year draws to a close this program is finally complete and paying dividends.
So what is on the list for 2018?
Lendix says more of the same – but bigger and better.
- The same, as they are committed to a culture that’s based on transparency and the alignment of interest and putting risk management before growth at all cost. It is important for both borrowers to accomplish their goals while lenders (investors) benefit from dedicating their money.
- Bigger, means expanding into additional countries with two in the queue for 2018.
- Better, is for their team, which keeps growing and the data they keep leveraging.
So any bets on which country will be next for Lendix? I have a good idea.