“We see huge potential in Finland. It lacks a strong market player that offers consumers a simple way to compare bank interest rates and borrowing terms at no cost,” says Dennis Ahlsen, founder and CEO of Lendo.
Lendo is owned by Schibsted Media Group and is the leading provider of consumer loans. The company has helped more than 500,000 customers improve their borrowing terms since its formation in 2007.
After only two years, Lendo.no has become the market leader in Norway, with 100,000 satisfied customers. Lendo is now expanding in the Nordics by setting up an office in Helsinki, launching lendo.fi, and entering into partnerships with selected Finnish banks.
“After two years of strong growth in Norway, we look forward to helping Finnish consumers reduce their borrowing costs by offering them a basis for making informed decisions about their borrowing options. The Finnish banks have received the news of our expansion very positively, and regard Lendo as a natural marketing channel,” says Ahlsen.
After undergoing a credit check, Lendo’s customers can obtain loan offers from multiple banks simultaneously and then choose the one that suits them best. The service is free of charge to customers and is paid for by the partner banks. The limited number of credit reports also has a favorable effect on customers’ credit rating. This method, which was designed in cooperation with the credit reference agency UC, has set the market standard for brokering of consumer loans.
Lendo has 45 partners in the Nordic countries within the banking, credit financing and insurance industries.