The demand for crowdlending is growing steadily in Switzerland, but growth is being hampered because transactions abroad remain complicated. A fintech company has decided to use Blockchain software to make the business easier.
Splendit is a Swiss fintech firm dedicated to broker loans to students paid for by financiers. The company has so far not been able to provide its service abroad, despite strong demand.
The company therefore has decided to link up with Blockchain-fintech Lykke, Splendit said in a statement today. Lykke, a Swiss startup, operates a trading platform based on Blockchain.
Handsome Growth Rates
Thanks to the deal with Lykke, Splendit henceforth will be able to finance foreign students by sending them their loans via the Lykke Wallet. Florian Kuebler, the co-founder of Splendit, says that this will save transaction costs and enable crowdlending across the globe.
Splendit has had a growth rate of 200 percent from a year earlier, according to the statement. Blockchain will further boost growth at the company. Kuebler sees particular growth potential among MBA students.
Return on Investment of 5 Percent
In its two years of existence, Splendit returned an average 5 percent on investments with a zero percent default rate.
