Alfie Joshua Alfie Joshua is the editor at Auto in the News. Find him on Twitter, Facebook, and Pinterest.

Online finance marketplace Zencap launches in Germany

35 sec read

Rocket Internet, the venture fund of the Samwer brothers, launches a second p2p lending service. Zencap will facilitate loans from 10,000 to 150,000 Euro to companies. To qualifiy the company has to be trading for at least two years, have solid financials and total revenue of more than a 100,000 Euro. Nominal interest rates range from 4 to 14.6%. Zencap charges borrowers 1 to 4.5% origination fees. 

Well-known incubator Rocket Internet has launched a new venture in Germany — Zencap, a digital credit marketplace for small and mid-sized enterprises to get financing without having to go through banks. Zencap essentially forms a bridge between entrepreneurs and private investors, allowing SMEs to apply for financing directly from Zencap. Entrepreneurs can apply for a loan in the range of €10,000 – €150,000, with a term of six to 60 months, after which the startup’s creditworthiness will be checked, and Zencap will propose a non-binding offer based on the firm’s risk class and the loan’s term. Only then will the credit project appear on Zencap’s website.

Source
Avatar of Alfie Joshua
Alfie Joshua Alfie Joshua is the editor at Auto in the News. Find him on Twitter, Facebook, and Pinterest.

Chicago tried and failed to use big data to…

Have you ever seen the movie Minority Report? If you haven’t, all you need to know is that it’s about a special police unit that’s able...
Avatar of Sal McCloskey Sal McCloskey
1 min read

Google believes artificial intelligence will be bigger than virtual…

When Mark Zuckerberg thinks about the future, he sees a world that’s dominated by mobile devices and virtual reality, but when Google CEO Sundar Pichai...
Avatar of Lorie Wimble Lorie Wimble
56 sec read

China wants to build floating nuclear power plants for…

I’m sure you’ve heard about that man-made island chain that China has built in the South China Sea, the one that’s been causing a...
Avatar of Alfie Joshua Alfie Joshua
1 min read

Leave a Reply

Your email address will not be published. Required fields are marked *