Fintech invests in lending marketplace

After partnering with Lakeba Group in August, Lodex has announced that the fintech has become a 10 per cent capital equity partner.

Giuseppe Porcelli, CEO and founder of Lakeba Group, said that the latest investment builds on the partnership, which was designed to develop Lodex’s BLOCKLOAN platform and help facilitate cryptocurrency transactions.

“Our investment in Lodex signals strategic intent by the Lakeba Group to create a stronger foothold in the dynamic and fast-growing digital financial services sector and, by extension, the democratisation of lending as offered through BLOCKLOAN.

“This is an exciting component of the market that will grow quickly. By taking equity in Lodex, we seek to future-proof Lakeba, enabling our firm to take an active role in the digital financial sector.”

Michael Phillipou, Lodex and BLOCKLOAN co-founder and co-CEO added: “We’re thrilled our technology partner Lakeba, an innovation company that boasts an enviable background in the development and commercialisation of blockchain applications, has invested in Lodex.

“They share our excitement for moving financial services onto blockchain technology and will help our company move with greater speed.

Mr Phillipou concluded: “The Lodex digital financial services wallet will be a one-stop product enabling consumers easy access to fiat and digital currency payments, including lending and digital asset trading services.

“All underpinned by world-class decentralised security.”

[Related: Fintech enlists help to build blockchain-based PSP lending platform]