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.

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

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