TX Group invests in Lend, the leading Swiss marketplace lending platform
In a move that will further strengthen its fintech portfolio, the TX Group invests in lend.ch, the Swiss crowdlending platform. 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, the 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. The Series B financing round of CHF 5.5million in the marketplace lending platform was led by TX Group. Other investors in the round included PostFinance and Alpana Ventures, the Geneva-based venture capital fund.
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. Lend's strong team and its impressive development of the business convinced us to invest. Startups such as Lend can accelerate their growth by drawing on our expertise in technology, data analytics and marketing, as well as in product and business development. 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."