Spain’s Liberbank partners with French lendtech October
Spain’s Liberbank and French crowdlending platform October have partnered to allow Spanish businesses access to participative lending through the bank.
This comes three years after the Spanish Law for Promotion of Entrepreneurial Financing (Ley de Fomento de la Financiación Empresarial) was approved.
Liberbank is pushing its “open banking” with this partnership; and is already offering fintech products and services.
The bank aims to improve its customer experience through partnerships and deals of this type that promote a “totally digital and agile” approach.
The Spanish bank is made up of a combination of Group Cajastur, Caja de Extremadura and Caja Cantabria, and although it has a presence across the country, it is mostly present in the regions of Asturias, Cantabria, Castile-La Mancha and Extremadura.
October, the French fintech previously called Lendix, is able to give personal loan assessments in a minute and send the funding through in under a week. It offers lending to “all types of financing needs” and focuses on “key moments” of companies’ lives.
It claims to have funded over 5,000 projects with a combined value of €240 million across France, Spain and Italy since its creation in 2014. It’s currently looking into expanding to the Netherlands.