Economy & Politics

FintechThe last founder leaves: Management change at Lendico

Lendico was founded in Berlin in 2013Marcus Lenk / Unsplash

It was almost seven years ago that Rocket Internet wanted to create a German counterpart to Lending Club, the successful credit platform from the United States. Lendico, as the fintech was called, initially had four founders and managing directors – Philipp Petrescu, Dominik Steinkühler, Clemens Paschke and Christoph Samwer, a cousin of the Samwer brothers.

The business model had to be adapted several times in the following years: At first, fintech granted loans to consumers, but from 2015 it was increasingly geared towards small and medium-sized enterprises (SMEs). In the meantime, there are no more consumer loans at Lendico. After initially expanding abroad, the company later withdrew from countries such as Spain, Poland and South Africa. They want to focus on the German market.

And: The founding managers gradually left fintech. Samwer founded Insurtech Friday in 2017, Steinkühler became divisional board member at Commerzbank and Petrescu founded the MVP Factory in Berlin. Two years ago, Rocket Lendico then sold to the Dutch bank ING. As can be seen from the commercial register, Clemens Paschke has now left Fintech as the last founder.

Find out what Paschke is doing now and who is his successor at Finance Forward, the new finance portal from Personal-Financial.com and OMR. You can register for the daily newsletter here.

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