INSUBCONTINENT EXCLUSIVE:
French crowd-lending platform October (formerly known as Lendix), wants to educate more people about new ways to borrow money
That why the company is launching a project called Grandir Ensemble (grow together).
11 big companies are borrowing €100,000 each on
October at a 2.5 percent interest rate
October users will be able to lend as little as €20 to one of these companies.
If you look at the list of companies, all those names will
sound familiar to French readers and beyond
Most of them are public companies, most of them are originally from France — AccorHotels, Adecco Group, Allianz France, Arkéa, Edenred,
Engie, Iliad, JCDecaux, Suez, Unibail-Rodamco-Westfield and Webhelp.
According to October, annual revenue of those companies ranges from
€1.8 billion to €122 billion, with Allianz generating more revenue than anyone else.
At a press conference, October co-founder and CEO
Olivier Goy explained the idea behind this project
Those credit lines won&t change anything for big public companies
But many of those companies work with small and medium companies.
Today partners will be able to refer small companies
October will wave the application fees for those companies up to €11 million in loans.
Thanks to this vote of confidence, you could
imagine small companies applying to October because a big company they trust has done it before.
France Economy Minister Bruno Le Maire
recorded a video message for the press conference, saying that he supports October and today campaign.
One of October key advantages
compared to borrowing money from the bank is that it much faster
You can apply to a credit line and get an answer just a few days later
This is quite useful if you need to move quickly to launch a new product, open a new office and more.
October currently operates in France,
Spain, Italy and soon the Netherlands
I already covered the company in depth back in June if you want to read more.
Lendix raises $37 million for its lending marketplace
