1st to fall in French Crowdlending scene


#1

It looks like the 1st Crowdlender to launch in France, Unilend, is about to close its doors. I guess that it could never overcome the excessive default rate from its first couple of years of underwriting…


#2

What would you say of the scene there, @hervelequer?


#3

Good question @maike. Don’t think many players are yet making any kind of money. Lendix is dominating crowdlending, expanding in continental europe and should be profitable soon. Wiseed and Anaxago are leaders of crowdfunding in equity, about breakeven. The thing that Unilend’s failure brought is a lot of speculations about the sustainability of this market. Poor business model for the non believers, poor execution, economic context or excessive reliance on the crowd for others. In any case, Unilend probably burned something like 10 m€ cash so clearly not a low profile case.