A short update on Danish peer-to-peer lending outfit Lendino A/S, which has closed an investment round.
The specifics of the fundraise have frustratingly been held back, but we’re told that the amount is in the millions of euros. Prominent angel investor Torben Nordal Clausen participated in the round, and now joins Lendino as Chairman. Stefan Glaenzer and Robert Dighero of Passion Capital – Founding Partner and Partner respectively – also contributed to the fundraise.
Lendino is a marketplace lending platform for small businesses in Denmark. The platform appears to have a strong local focus, suggesting that its community of investors often possess “local knowledge” pertaining to the companies into which they invest. Those investors are looking at a gross return of 4-11% on the Lendino platform. Lendino’s Chief Risk Officer Nils Thygesen once penned a column for AltFi, in an attempt to explicate the somewhat gradual development of alternative finance within the Nordics. Perhaps the Lendino fundraise will play a part in jumpstarting the alternative finance movement in Scandinavia.
Newly appointed Chairman Torben Nordal Clausen offered his thoughts:
“Lendino has been fast and accurate to identify this niche lending market in Denmark, where especially smaller companies seek alternative finance more often compared to conventional bank lending. I see Lendino as a central player in the alternative lending market in Denmark and in the future also outside the borders.”