The shake up is designed to aid the international growth of the platform.
On this, the final day of the month of October, French marketplace lending platform Lendix will adopt the month’s name for itself.
The fintech firm has this morning announced a sweeping rebrand that will see its name change to October and its logo change to a kind of computerised origami bird taking flight, alongside a revamping of its website and products.
The image of ‘taking off’ is very much in vogue within fintech business lending. Funding Circle’s latest TV ad depicts a gaggle of penny slot rides blasting off into the stratosphere, overlaid with the strapline ‘help your business fly’.
October, as it is now named, says that the primary aim of the rebrand is to support international growth.
The firm is currently active across France, Spain and Italy, and claims to have lent a cumulative total of €230m to small businesses across those markets.
The Netherlands has long been primed as October’s next port of call. It appointed Luuc Mannaerts as chief executive officer for its Dutch operations in May of this year, and it has today added Dutch as a language on its site. The first loans to Dutch businesses will be completed in the coming weeks.
Expansion into the Netherlands will bring October into direct competition with the recently-floated Funding Circle, which is active in the Netherlands and Germany (as well as the UK and US).
October raised an additional €32m in June of this year, in a round featuring new investors Idinvest Partners, Allianz and CIR S.p.A. It pledged then to be active in 5 international markets by the end of this year, and 7 by the close of 2019.
Commenting on the rebrand, founder and CEO Olivier Goy (pictured, left) said: “We have a new name, October, and it brings other changes with it. We’ve been working on a new look, a new website and new products to reflect who we are: a technology company with a European outlook. Our logo is a bird taking flight, to represent what we do best: unlock all the key moments of a business’ growth.”