TX Group Leads Lend’s Funding Round With CHF 5.5 Millionby Fintechnews Switzerland October 16, 2020
Swiss media company TX Group led the Series B financing round for Lend, a crowdlending platform, with an investment of CHF 5.5 million in a move that will strengthen its existing fintech portfolio.
Other investors in the round included PostFinance and Alpana Ventures, the Geneva-based venture capital fund.
This platform is a direct channel for loans between borrowers and investors, avoiding the use of banks as intermediaries. Investors benefit from attractive returns and borrowers, who include private individuals as well as SMEs, pay comparatively favourable interest.
Founded in 2015 by Florian Kübler and Michel Lalive d’Epinay, this Zurich-based fintech enterprise now employs a 17-strong workforce.
Borrowers have already applied to Lend for loans amounting to over CHF 1.3 billion. As part of a cooperation arrangement, PostFinance also offers loans via Lend to its business clients.
Florian Kübler, a Co-founder of Lend comments,
“Through Lend, we are offering simple and efficient financial services for everyone. By doing so, we aim to change the status quo and turn the financial world into a fair and supportive environment. We are delighted to know that we have the TX Group on our side as a strong partner, and we look forward to having a positive impact on the financial world as we work together.”
Samuel Hügli, Head of Technology & Ventures and Member of the Group Management at the TX Group, who is also a new member of the Lend Board of Directors,
“Lend is an ideal complement to our existing fintech portfolio and we share the same vision, because we too want to offer our Swiss clients independent and fair financial solutions. Furthermore, the company benefits from the extensive reach of our media and platforms, given that we reach over 80 percent of the Swiss population every day.”
Featured image: (L-R)Florian Kübler and Michel Lalive, Co-Founders of LEND