Scan Magazine | Special Theme | Danish FinTech Special
Bringing crowdlending to Denmark Crowdfunding has become huge business in the last couple of years, with many inventors and business owners choosing to fund their projects through websites where a group of people back them financially. Denmark has been lagging behind in the crowdfunding world, but Lendino is at hand to bring Denmark right up to speed through their crowdlending website. By Josefine Older Steffensen | Photos: Lendino
Crowdlending is a branch of crowdfunding. Rather than just putting your money towards a project or a gadget, crowdlending offers the opportunity to get your money back – with interest. “It’s an alternative to putting your money in the bank, just with a much better return on your money,” explains Esben Bistrup Halvorsen, CEO and partner.
Lendino’s platform Lendino gives business owners the opportunity to apply for a loan through their website. Once the loan has been accepted and verified, it is posted online. People can then give money towards that loan, 84 | Issue 103 | August 2017
and every month they will receive money from repayments and interest. This continues until the loan has been paid off.
Lendino’s credit specialists, who ensure that the company’s credit score is good. “Actually, most of the loan applications are not accepted initially. We need to ensure that the companies will pay the loan back, and the people investing will get their money back. Therefore, it’s essential that each company has a good credit score,” says Halvorsen.
The platform that Lendino has created makes things easy for both businesses and private individuals. There is someone at hand to answer questions between 9am and 5pm every day, and the platform even provides a forum where lenders and borrowers can keep each other informed.
“However,” he adds, “we usually give people the opportunity to improve their application and suggest ways in which they can make themselves more credit worthy. We don’t offer loans to everyone, but what we do offer is a quick and transparent application process and better rates than most banks, and the money is received in full within a few weeks.”
For the borrower
For the lender
Companies applying for a loan will find the application process simple and user friendly. The application is analysed by
“Investing in a crowdlending loan is more fun and much more rewarding than putting your money into a savings account,”