Lendix Moving Away From Their P2P Lending Profile
October, formerly known as Lendix, is a leading platform in funding of small and medium-sized enterprises (SME loans). The company was launched in 2014 and is based in Paris, France. It operates in France, Spain, Italy and the Netherlands. 14,000+ lenders have financed more than €240 million worth of SME loans (November 2018).
Last month, the company changed its name from Lendix to October. While the company’s product currently remains the same – a P2P lending platform connecting individual and institutional investors with small and medium companies, we can expect a change in the future. With a new brand, the company plans to start offering other financial products.
The Company Found Lendix Boring and Too French
Explanations given by the company also include that they found the name Lendix too French for a company that wants to become a European leader. And also that it was a bit boring and all about lending money.
Not doubt that “Lend” may prove to be a disadvantage in a quick-growing P2P market where not all platforms will survive in a harsh competition, but “October” is also a very anonymous name that don’t give a clue about the company’s real business.
Original and Current Strategies
Originally, Lendix intended to become a SMEs lending marketplace leader in continental Europe. After the transition to October, there may be concerns about the company’s intentions and sustainability.