Europe is already home to some of the world’s most impressive and innovative fintech companies and ideas, mainly stemming out of the UK. Post Brexit, the UK has made large efforts to remain competitive and relevant in the EU to not lose their huge fintech advantage they have, such as working to become the global cryptocurrency epicenter and using Lithuania for licensing in the EU. However, now London seems to be home to one of its own unique fintechs, known as Lender. Lender is a digital lender company backed by Goldman Sachs, now being valued at over €1.1 billion. One of Lender’s most unique attributes is that it allows its customers to borrow up to €23,400 instantly. This is a huge jump in value, as the company was founded back in 2014, valued around €585 million in 2018, and now its current extreme value it earned earlier this year. What makes this all the more impressive in its unicorn status is that it has raised only around €4.7 million in equity, all the while its founders have not taken interviews in over three years. Lender has been able to realize some of the most impressive margins in the fintech industry, raking in €17.5 million in profits on €37.5 in revenue, making it one of the only European fintechs that are actually generating money at the moment.
Lender has been ranked by Sunday Times Top 10 in Tech as one of Europe’s fintechs with the fastest growing sales. They are currently offering a new loan to a customer every 30 seconds; offering competitive rates with fast-tracking technology. The large increase in both revenue and interest from investors has allowed them to work on expanding outside of Europe to the US and even work on developing a credit card service for customers. Some of their top investors include Goldman Sachs, Stefan Glänzer, and Eileen Burbidge, but unsurprisingly more and more new investors are looking to get in on the action. With the backing of some of the world’s most prestigious, well-respected, and smartest investors, this will only serve as a catalyst of confidence not only by more investors, but for customers in new markets such as the US to give Lender a try. Their business model may be one that new fintech startups may seek to imitate; being one the only profitable startups in Europe as of recently. Once they are able to make a large enough breakthrough in the US market, the sky’s the limit for Lender.