CrossLend in the news

Für Digitalisierungsmuffel: Sie sind der beste Freund

Wirtschaftsforum.de - 7. July 2018

„Digitalisierung trifft Mittelstand – ob er es will oder nicht. Entwicklung, die das Banking schon heute maßgeblich verändert haben...“

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La BCEE et CrossLend au service des PME européennes

Paperjam.lu - 27. June 2018

„Présente au Luxembourg depuis novembre et membre de l'écosystème de la Lhoft, la start-up allemande a l’ambition de faciliter le financement des ...“

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Direct Lending für Einsteiger

Institutional Money - May 2018

“Das Berliner Start-up-Unternehmen CrossLend sieht sich als europäischen Marktplatz für Performing Loans und wendet sich dabei an institutionelle Investoren.“

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Crosslend and Banca BNI Europe announce cooperation

Globalbankingandfinance.com - 16. February 2018

„Banco BNI Europa and CrossLend have launched a cooperation whereby Banco BNI Europa invests into notes issued by CrossLend Securities SA. “

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Die Win-Win-Win-Situation

Exxec News Institutional - 31. August 2017

„Europa hat ein Problem. Die gute Nachricht ist: Das Problem ist bekannt – dem Kontinent fehlt eine Kapitalmarktunion.“

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Funding where it is needed

Treasurytoday - 1. July 2017

“CrossLend believes that the financing space needs a shake-up and has developed a solution that aims to do exactly that.”

Read more

Für Digitalisierungsmuffel: Sie sind der beste Freund

Wirtschaftsforum.de - 7. July 2018

„Digitalisierung trifft Mittelstand – ob er es will oder nicht. Entwicklung, die das Banking schon heute maßgeblich verändert haben...“

Read more

La BCEE et CrossLend au service des PME européennes

Paperjam.lu - 27. June 2018

„Présente au Luxembourg depuis novembre et membre de l'écosystème de la Lhoft, la start-up allemande a l’ambition de faciliter le financement des ...“

Read more

Direct Lending für Einsteiger

Institutional Money - May 2018

“Das Berliner Start-up-Unternehmen CrossLend sieht sich als europäischen Marktplatz für Performing Loans und wendet sich dabei an institutionelle Investoren.“

Read more

Crosslend and Banca BNI Europe announce cooperation

Globalbankingandfinance.com - 16. February 2018

„Banco BNI Europa and CrossLend have launched a cooperation whereby Banco BNI Europa invests into notes issued by CrossLend Securities SA. “

Read more

Die Win-Win-Win-Situation

Exxec News Institutional - 31. August 2017

„Europa hat ein Problem. Die gute Nachricht ist: Das Problem ist bekannt – dem Kontinent fehlt eine Kapitalmarktunion.“

Read more

Funding where it is needed

Treasurytoday - 1. July 2017

“CrossLend believes that the financing space needs a shake-up and has developed a solution that aims to do exactly that.”

Read more

Für Digitalisierungsmuffel: Sie sind der beste Freund

Wirtschaftsforum.de - 7. July 2018

„Digitalisierung trifft Mittelstand – ob er es will oder nicht. Entwicklung, die das Banking schon heute maßgeblich verändert haben...“

Read more

La BCEE et CrossLend au service des PME européennes

Paperjam.lu - 27. June 2018

„Présente au Luxembourg depuis novembre et membre de l'écosystème de la Lhoft, la start-up allemande a l’ambition de faciliter le financement des ...“

Read more

Direct Lending für Einsteiger

Institutional Money - May 2018

“Das Berliner Start-up-Unternehmen CrossLend sieht sich als europäischen Marktplatz für Performing Loans und wendet sich dabei an institutionelle Investoren.“

Read more

Crosslend and Banca BNI Europe announce cooperation

Globalbankingandfinance.com - 16. February 2018

„Banco BNI Europa and CrossLend have launched a cooperation whereby Banco BNI Europa invests into notes issued by CrossLend Securities SA. “

Read more

Die Win-Win-Win-Situation

Exxec News Institutional - 31. August 2017

„Europa hat ein Problem. Die gute Nachricht ist: Das Problem ist bekannt – dem Kontinent fehlt eine Kapitalmarktunion.“

Read more

Funding where it is needed

Treasurytoday - 1. July 2017

“CrossLend believes that the financing space needs a shake-up and has developed a solution that aims to do exactly that.”

Read more

Press release archive

  • CrossLend and BCEE announce collaboration
    Luxembourg, 18 June 2018

    Banque et Caisse d’Epargne de l’Etat, Luxembourg (“BCEE”) and CrossLend have launched a collaboration, whereby BCEE is acting as an issuing agent and paying agent for notes issued by CrossLend. Taking advantage of CrossLend’s innovative loan securitisation product, the Luxembourg based bank, rich in heritage, will continue to expand its presence in the securitisation market, enabling institutional investors to invest into cleared securities backed by pan-European loan products or other eligible assets in multiple currencies.

    This collaboration was announced on the evening of May 31st 2018, at BCEE’s evening event “At the heart of Luxembourg’s Financial Centre: Luxembourg securitisation – an efficient tool for structuring”, which was well attended by 200 representatives of Luxembourg’s financial community. The evening event included presentations from PwC, Allen & Overy, Universal Investments and CrossLend. All centred around securitisation under the Luxembourg Law of 2004.

    CEO & Founder of CrossLend, Oliver Schimek: “This partnership solidifies our presence in Luxembourg and adds a further stable and long-term partner to our business. BCEE, one of the most prestigious financial institutions in Europe, and of such great importance locally, has again proven to us that we have a great deal of support from the Luxembourg ecosystem – coming after two investments from the Luxembourg Future Fund.”

    Head of Institutional Relationship Management at BCEE, Alain Uhres, said: “Cooperating with CrossLend is yet another way in which we are supporting our institutional clients and Luxembourg’s securitisation market. I think that securitisation is a growing market in Luxembourg and that a legal framework exists ensuring legal certainty, which is of the utmost importance for investors. BCEE has always supported the Luxembourg economy and this most recent collaboration is further evidence of this.”

    About CrossLend

    CrossLend is a B2B FinTech company with a mission to make the European debt ecosystem more efficient, transparent and profitable. CrossLend provides securitisation as a service, transforming loans into notes on a flexible and transparent basis.

    CrossLend’s innovative securitisation setup allows investors to build diversified portfolios of loans (via notes) at a pan-European level, with an emphasis on providing risk transparency. On the other side of the coin, loan originators profit from flexible opportunities to scale their lending business – opening up much-needed financing avenues to small and medium-sized businesses across Europe. A win-win-win situation for all.

    Backed by an array of prestigious equity investors from Europe and the U.S., including Lakestar, CME Ventures and the Luxembourg Future Fund, CrossLend plans to establish a European Debt Exchange. In Germany, CrossLend acts as tied agent of FinTech Group Bank AG within the scope of § 2 para. 10 of the German Banking Act.

    CrossLend was founded in Berlin in 2014 and, in 2015, incorporated a fully CSSF-regulated securitisation vehicle, CrossLend Securities SA. After securing an investment from the Luxembourg Future Fund in 2017, (backed by, amongst others, the Société Nationale de Crédit et d’Investissement and the European Investment Fund), the company opened a Luxembourg office on Boulevard Royal which currently has 8 employees.

    About BCEE

    BCEE was founded in 1856. Throughout its more than 160 years of existence, the main concern of Banque et Caisse d’Epargne de l’Etat, Luxembourg (BCEE) has always been to meet the demands of its customers and of the national economy.

    Today, it is both the Luxembourg bank par excellence and a full-service bank, recognised throughout the world for its results and its dependability. Its sound financial standing, as well as that of its sole shareholder, the Luxembourg State (AAA rated), are the reasons why the international rating agencies Standard & Poor’s and Moody’s have awarded it ratings of AA+ and Aa2 respectively (Long Term Deposit Range). BCEE has been ranked among the 10 safest banks in the world in 2017 by Global Finance Magazine.

    Committed to Luxembourg and to its customers, BCEE has increased its institutional business in recent years, and intends to further develop its activity as a service provider in the securitisation market.

  • CrossLend conference focused on the role of FinTech and securitisation with the Minister of Finance, Pierre Gramegna, hosted at BGL BNP Paribas
    Luxembourg, Friday, 2nd March 2018

    On Thursday, 22nd February, CrossLend, with the support of the lux future lab and the LHoFT Foundation, held a conference titled “The Role of Luxembourg & FinTech in Securitisation” at the BGL BNP Paribas Auditorium, with more than 350 registered guests, among them banking executives, institutional investors, and securitisation professionals.

    After a welcome note from Olivier Selis, CEO of the lux future lab, Laure Morsy, COO of BGL BNP Paribas explained how the bank is supporting FinTech Innovation. Ms. Morsy added a personal note in support of CrossLend’s innovative approach to bridging the SME funding gap in Europe.

    Alex Lawrence, Managing Director of CrossLend in Luxembourg, then presented the company in a nutshell, focusing on how CrossLend’s business model aligns with the EU Commission’s plan to facilitate funding Europe’s collective future growth via a Capital Markets Union (“CMU”). The Commission has clear objectives to remove barriers to cross-border investment, to improve access to business-financing across Europe, to diversify how the various EU member states fund their respective economies and to develop various “high-quality” securitisation products with transparent and easy-to-understand structures. These objectives not only align with the potential inherent in CrossLend’s innovative securitisation solution, they also resonate with previous statements made by Pierre Gramegna, Luxembourg’s Minister of Finance, that the CMU is “of the utmost importance” and that progress based on “transparent, simpler and better securitisations” needs to be made as quickly as possible.

    Alex Panican, Head of Partnerships and Ecosystem at the LHoFT, moderated the subsequent panel discussion, titled “FinTech - a New Era for Securitisation”, with Oliver Schimek, CEO of CrossLend, Mark Schmitz, General Partner at Lakestar, Cees Vermaas former CEO of CME Europe, Juha Lehtola, VC Investments Manager at the European Investment Fund and Holger von Keutz, Partner and Securitisation Leader at PwC. The open discussion covered a wide range of topics, spanning from Luxembourg as a FinTech hub and startup nation to CrossLend’s role in supporting the CMU vision and BGL BNP Paribas’ role supporting the FinTech ecosystem in Luxembourg.

    The evening was concluded with a speech from honoured guest, H.E. Pierre Gramegna, Luxembourg’s Minister of Finance, discussing the diversity of Luxembourg’s FinTech ecosystem and the range of services offered by Luxembourg’s financial market. Mr. Gramegna is a staunch promoter of FinTech in Luxembourg and has been a strong supporter of the CrossLend journey.

    Pierre Gramegna, Minister of Finance, Luxembourg declared:

    “Oliver Schimek, it is a pleasure to see you again, now in Luxembourg, after we met together in December in Berlin, where I got to know CrossLend, which we are celebrating here today as it opens its office in Luxembourg They’ve chosen Luxembourg because, in terms of securitisation, we are the leader in Europe with 1,200 vehicles [...] and we can be proud of that [...]. Congratulations to CrossLend and all the best of success here in Luxembourg.”

    Laure Morsy, COO of BGL BNP Paribas commented:

    “What CrossLend intends to do is really to put on the table the topic of creating a European Capital Market, and this is [...] a good reason to support the project [...] these are the topics of tomorrow, and we should give the means and attention to this issue [...]. I strongly support their project”.

    Oliver Schimek, CEO & Founder of CrossLend commented:

    “It was a fantastic turn out and great to see more than 350 people registering from throughout the Luxembourg ecosystem and beyond - big names from across the industry, interested in the Capital Markets Union, funding for SMEs, and CrossLend in particular. CrossLend’s mission is to make the debt ecosystem more efficient, transparent and profitable - and Luxembourg is the perfect place to achieve that.”

    Olivier Selis, CEO of the Lux Future Lab commented:

    “Over the last 5 years, we saw the Luxembourgish startups - and particularly the FinTech ecosystem - growing rapidly. It is very exciting to be part of this community and support a promising company such as CrossLend. By helping lenders to diversify and mitigate their risk at the single loan level, CrossLend will allow funds to flow to the real economy and unleash the true European economic potential.”

    Alex Panican, Head of Partnerships and Ecosystem at the LHoFT added:

    “We at the LHoFT are thrilled to support CrossLend’s development - a promising FinTech company, revolutionising Europe’s lending market. CrossLend is a concrete example of how financial technology innovation benefits not only the industry but our daily life.”

    Cees Vermaas, previous CEO CME Europe:

    “This technology opens new frontiers to overcome the obstacle for borrowers of a fragmented European capital market”

    About CrossLend

    CrossLend is a B2B FinTech company with a mission to make the European debt ecosystem more efficient, transparent and profitable. CrossLend provides securitisation as a service, transforming loans into notes on a flexible and transparent basis.

    CrossLend’s innovative securitisation setup allows investors to build diversified portfolios of loans (via notes) at a pan-European level, with an emphasis on providing risk transparency. On the other side of the coin, loan originators profit from flexible opportunities to scale their lending business - opening up much-needed financing avenues to small and medium-sized businesses across Europe. A win-win-win situation for all.

    Backed by an array of prestigious equity investors from Europe and the U.S. like Lakestar, CME Ventures and the Luxembourg Future Fund, CrossLend plans to establish a European Debt Exchange. In Germany, CrossLend acts as tied agent of FinTech Group Bank AG within the scope of § 2 para. 10 of the German Banking Act.

    About the LHoFT Foundation

    The LHoFT Foundation is a public - private sector initiative that drives technology innovation for Luxembourg’s Financial Services industry, connecting the domestic and international FinTech community to develop solutions that shape the world of tomorrow. The other partners of the LHoFT initiative are the Chamber of Commerce, the City of Luxembourg and the University of Luxembourg; the initiative is supported by the Ministry of Finance, the Ministry of Economy and the Ministry of State.

    About lux Future Lab

    The lux future lab is an incubator powered by BGL BNP Paribas and supports individuals at the crossroads of their professional development to improve their skills and move forward with their entrepreneurial ideas. To support their growth, the lab provides facilities, educational resources, professional services and networking opportunities. Located in the heart of Luxembourg, the lab promotes the advancement of business expertise, education and projects in an interactive and dynamic environment.

  • CrossLend and Banco BNI Europa announce cooperation
    Berlin, 14 February 2018

    Banco BNI Europa and CrossLend have launched a cooperation whereby Banco BNI Europa invests into notes issued by CrossLend Securities SA. In this way, the FinTech-oriented bank will expand its investment into pan-European loan products, taking advantage of CrossLend’s innovative whole loan securitisation product.

    “Using the CrossLend platform as a means to easily diversify our European portfolio in a standardised way has advantages for us over direct loan investments, in several ways. As a FinTech-driven bank, we seek to position ourselves in the most scaleable way. With its tech-driven securitisation product, CrossLend supports our growth and diversification. Over the last few years, we have successfully built a network of FinTech partnerships, in order to benefit from the speedy developments in the financial ecosystem in the smartest possible way. We also aim to expand our partnership with CrossLend in the near future,” says Pedro Pinto Coelho, CEO of Banco BNI Europa.

    “We are very appreciative of the partnership with Banco BNI Europa. They are a great example of a highly efficient, modern bank. CrossLend aims to act as a partner to banks looking to actively manage their balance sheet, either by buying or selling exposure to loans. To investors, we can offer a broad selection of investable assets. Onboarding Banco BNI Europa as a further partner on our platform is confirmation of the value we can bring to establishedfinancial institutions,” states Oliver Schimek, CEO of CrossLend GmbH.

    Banco BNI Europa has established several partnerships with European FinTech leaders across the continent and is now a key international player in the alternative finance sector. The bank showed growth of 141 per cent at the end of 2017, bringing its total assets over 500 million euro. Banco BNI Europa cited its focus on “innovative products” as a reason for its improved performance.

    About CrossLend

    CrossLend’s innovative, tech-enabled securitisation setup allows investors to build diversified portfolios of loans via notes in a flexible way at a pan-European level, while enjoying greater risk transparency.

    On the other side of the coin, loan originators can leverage their excess lending capacity and optimise their profit. A win-win situation for all. Forms of debt securitised by CrossLend include SME loans, consumer loans and mortgages.

    Backed by an array of prestigious equity investors from Europe and the U.S., including Lakestar, CME, the Luxembourg Future Fund, CrossLend plans to establish an international exchange where various forms of debt can be bought and sold. In Germany, CrossLend acts as tied agent of FinTech Group Bank AG within the scope of § 2 para. 10 of the German Banking Act.

    About Banco BNI Europa

    Banco BNI Europa was launched in July 2014 and is Portugal’s fastest growing, purely digital bank. Banco BNI Europa aims to challenge the traditional banking sector through strategic partnerships with fast-moving FinTech companies, enabling them to launch new products employing the most advanced technology in terms of risk analysis, consumer experience and rapid market entry. This strategic orientation furthermore allows the Bank to identify itself as a “Challenger Bank”, drawing on the logic of open architecture and differentiation. This positioning also allows Banco BNI Europa to stand out as a benchmark in the new generation of European FinTech banks and move forward with significant growth rates.

  • Luxembourg Future Fund and Promus Ventures invest in CrossLend
    Berlin, 10.04.2017

    Berlin-based FinTech CrossLend (www.crosslend.com) has attracted further prominent investors. The company announced investments from the LFF (Luxembourg Future Fund) and US-based Fund Promus Ventures.

    The Luxembourg Future Fund, which is set up by the European Investment Fund, part of the European Investment Bank group, and Société Nationale de Crédit et d’Investissement (SNCI), a public-law banking institution specialized in medium and long term financing of Luxembourg based companies, decided to invest in CrossLend, due to the Start-up’s potential impact on the Luxembourg financial landscape, among other factors.

    Promus Ventures is a venture capital firm based in Chicago investing in visionary software and hardware companies mostly in the U.S. and Europe. The firm has invested in more than 55 private technology companies, including areas such as artificial intelligence, space, robotics, machine learning, computer vision, VR/AR, connected car, healthtech, fintech, insurance, and others. Promus Ventures focuses mostly on early seed and Series A stage rounds and has invested in such innovative companies as Kensho, Spire, Navdy, AngelList, Mapbox, Rocket Lab, Airware, Layer, June, Swift Navigation, Whoop, CrowdFlower and others.

    CrossLend has pioneered the securitisation of individual loans into bonds via a Luxembourg securitisation vehicle. CrossLend is authorized and regulated by the CSSF.

    CrossLend helps lending banks or alternative lenders by allowing them to partially offload loans via the CrossLend platform on a single loan basis. This way banks can shrink their balance sheets. Investors can invest in the bonds via the CrossLend platform and thus co-invest into the banks’ origination. Tighter equity regulations are increasingly reducing banks’ lending capacities, with the result that ever more loan requests are rejected although the respective borrowers have sufficient credit worthiness. While banks gain stability through these measures, the European economy is weakened - as middle-market companies in particular are in need of loans. At the same time, institutional investors lack access to adequate fixed-income investments. The EU Commission has already pinpointed the problem with its call for the creation of a capital market union. “CrossLend wants to help creating such a capital market, by making it possible for investors to join forces with banks to invest in their loans,” explains Oliver Schimek, founder and co-CEO at CrossLend.

    “To achieve this goal, we’ve created a platform that enables investments in securitised individual loans. In doing so, we are making banks P2P-capable, while merging the advantages of the P2P approach with banks’ traditional strengths - relationships and data.” CrossLend chose Luxembourg as its regulatory home, because Luxembourg is very financial services oriented, naturally international, very open minded towards digitalization and FinTech and very supportive of Start-ups in general. CrossLend is establishing a permanent presence in Luxembourg in order to leverage the well-developed financial services ecosystem, as well as the high level of innovation at professional andacademic institutions.

    The Chief Executive of EIF, Pier Luigi Gilibert comments: “CrossLend is a most interesting co-investment which will help to strengthen the Fintech industry via the Luxembourg Future Fund. The company’s innovative setup for securitising individual loans is effectively creating a new asset class which is very promising. We are excited about helping CrossLend to establish itself as a player in Luxembourg with the prospect of assuming an important role in the European debt capital market.”

    The Chairman of LFF, Patrick Nickels said: “The Luxembourg Future Fund aims to stimulate the diversification and sustainable development of the Luxembourg economy. This innovative company fits exactly into the scope of our strategic sectors, for example the ICT sector in general, and the Fintech sector in particular.”

    Mike Collett, Managing Partner at Promus Ventures, comments on the investment in CrossLend: “As a USbased Venture Capital firm it is often challenging to assess opportunities which innovate in a highly regulated industry in Europe. We are certain that CrossLend can become a game changer in the European and global financial eco-system. CrossLend has the right team to execute its truly grand vision.”

    About CrossLend

    CrossLend intermediates loans and securitises them into bonds, in which investors can invest via the CrossLend platform. The advantages of single loan securitisation: pan-European investments are possible by means of a uniform securities structure, and can be broadly diversified at a supranational level. A secondary market to be established in the near future will provide a trading venue for the bonds. In addition to the LFF, CME Ventures and Lakestar, CrossLend is financed by several other well-known venture capital companies and business angels - including Northzone and Atlantic Labs. CrossLend is currently active in Germany, Spain, the UK and the Netherlands.

  • CrossLend Secures New Investor: CME Ventures
    Berlin, February 9th 2017

    All signs point towards growth: Berlin-based FinTech CrossLend (www.crosslend.com) has found a further prominent investor in CME Ventures, the venture capital investment arm of Chicago-based CME Group. CME Ventures is the latest investor to support CrossLend’s pioneering approach to securitising individual loans into bonds, which both private and institutional investors can then invest in via the CrossLend platform. Lending banks in particular stand to profit from CrossLend’s approach, unique in Europe, as the company also securitises loans originated by third-parties, helping free up banks’ balance sheets. Additionally, CrossLend has received a further injection of capital from its long-standing investor, Lakestar.

    Tighter equity regulations are increasingly reducing banks’ lending capacities, with the result that ever more loan requests are rejected. While banks gain stability through these measures, the European economy is weakened - as middle-market companies in particular are in need of loans. At the same time, institutional investors lack adequate access to fixed-income investments. The EU Commission has already pinpointed the problem with its call for creation of a capital market union. “CrossLend wants to help create such a capital market, by making it possible for investors to join forces with banks to invest in loans,” explains Oliver Schimek, founder and co-CEO at CrossLend. “To achieve this goal, we’ve created a platform that enables investment in securitised individual loans. In doing so, we are making banks P2P-capable, while merging the advantages of the P2P approach with banks’ traditional strengths - relationships and data.”

    According to Rumi Morales, Executive Director of CME Ventures: “CrossLend is our first European investment and the company’s innovative setup for securitising individual loans and making them tradable in the future over a public exchange holds a lot of promise. We appreciate the deep industry experience of the management team, their approach of working with regulators, and the potential for CrossLend to facilitate a closer capital markets union in Europe.”

    About CrossLend

    CrossLend intermediates loans and securitises them into bonds, in which investors can invest via the CrossLend platform. The advantages of single loan securitisation: pan-European investments are made possible by means of a uniform securities structure, and can also be broadly diversified at a supranational level.

    A secondary market to be established in the near future will provide a trading venue for the bonds. In addition to CME Ventures and Lakestar, CrossLend is financed by several other well-known venture capital companies and business angels - including Northzone and Atlantic Labs. CrossLend is currently active in Germany, Spain, the UK and the Netherlands.

CrossLend and BCEE announce collaboration
Luxembourg, 18 June 2018

Banque et Caisse d’Epargne de l’Etat, Luxembourg (“BCEE”) and CrossLend have launched a collaboration, whereby BCEE is acting as an issuing agent and paying agent for notes issued by CrossLend. Taking advantage of CrossLend’s innovative loan securitisation product, the Luxembourg based bank, rich in heritage, will continue to expand its presence in the securitisation market, enabling institutional investors to invest into cleared securities backed by pan-European loan products or other eligible assets in multiple currencies.

This collaboration was announced on the evening of May 31st 2018, at BCEE’s evening event “At the heart of Luxembourg’s Financial Centre: Luxembourg securitisation – an efficient tool for structuring”, which was well attended by 200 representatives of Luxembourg’s financial community. The evening event included presentations from PwC, Allen & Overy, Universal Investments and CrossLend. All centred around securitisation under the Luxembourg Law of 2004.

CEO & Founder of CrossLend, Oliver Schimek: “This partnership solidifies our presence in Luxembourg and adds a further stable and long-term partner to our business. BCEE, one of the most prestigious financial institutions in Europe, and of such great importance locally, has again proven to us that we have a great deal of support from the Luxembourg ecosystem – coming after two investments from the Luxembourg Future Fund.”

Head of Institutional Relationship Management at BCEE, Alain Uhres, said: “Cooperating with CrossLend is yet another way in which we are supporting our institutional clients and Luxembourg’s securitisation market. I think that securitisation is a growing market in Luxembourg and that a legal framework exists ensuring legal certainty, which is of the utmost importance for investors. BCEE has always supported the Luxembourg economy and this most recent collaboration is further evidence of this.”

About CrossLend

CrossLend is a B2B FinTech company with a mission to make the European debt ecosystem more efficient, transparent and profitable. CrossLend provides securitisation as a service, transforming loans into notes on a flexible and transparent basis.

CrossLend’s innovative securitisation setup allows investors to build diversified portfolios of loans (via notes) at a pan-European level, with an emphasis on providing risk transparency. On the other side of the coin, loan originators profit from flexible opportunities to scale their lending business – opening up much-needed financing avenues to small and medium-sized businesses across Europe. A win-win-win situation for all.

Backed by an array of prestigious equity investors from Europe and the U.S., including Lakestar, CME Ventures and the Luxembourg Future Fund, CrossLend plans to establish a European Debt Exchange. In Germany, CrossLend acts as tied agent of FinTech Group Bank AG within the scope of § 2 para. 10 of the German Banking Act.

CrossLend was founded in Berlin in 2014 and, in 2015, incorporated a fully CSSF-regulated securitisation vehicle, CrossLend Securities SA. After securing an investment from the Luxembourg Future Fund in 2017, (backed by, amongst others, the Société Nationale de Crédit et d’Investissement and the European Investment Fund), the company opened a Luxembourg office on Boulevard Royal which currently has 8 employees.

About BCEE

BCEE was founded in 1856. Throughout its more than 160 years of existence, the main concern of Banque et Caisse d’Epargne de l’Etat, Luxembourg (BCEE) has always been to meet the demands of its customers and of the national economy.

Today, it is both the Luxembourg bank par excellence and a full-service bank, recognised throughout the world for its results and its dependability. Its sound financial standing, as well as that of its sole shareholder, the Luxembourg State (AAA rated), are the reasons why the international rating agencies Standard & Poor’s and Moody’s have awarded it ratings of AA+ and Aa2 respectively (Long Term Deposit Range). BCEE has been ranked among the 10 safest banks in the world in 2017 by Global Finance Magazine.

Committed to Luxembourg and to its customers, BCEE has increased its institutional business in recent years, and intends to further develop its activity as a service provider in the securitisation market.

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CrossLend conference focused on the role of FinTech and securitisation with the Minister of Finance, Pierre Gramegna, hosted at BGL BNP Paribas
Luxembourg, Friday, 2nd March 2018

On Thursday, 22nd February, CrossLend, with the support of the lux future lab and the LHoFT Foundation, held a conference titled “The Role of Luxembourg & FinTech in Securitisation” at the BGL BNP Paribas Auditorium, with more than 350 registered guests, among them banking executives, institutional investors, and securitisation professionals.

After a welcome note from Olivier Selis, CEO of the lux future lab, Laure Morsy, COO of BGL BNP Paribas explained how the bank is supporting FinTech Innovation. Ms. Morsy added a personal note in support of CrossLend’s innovative approach to bridging the SME funding gap in Europe.

Alex Lawrence, Managing Director of CrossLend in Luxembourg, then presented the company in a nutshell, focusing on how CrossLend’s business model aligns with the EU Commission’s plan to facilitate funding Europe’s collective future growth via a Capital Markets Union (“CMU”). The Commission has clear objectives to remove barriers to cross-border investment, to improve access to business-financing across Europe, to diversify how the various EU member states fund their respective economies and to develop various “high-quality” securitisation products with transparent and easy-to-understand structures. These objectives not only align with the potential inherent in CrossLend’s innovative securitisation solution, they also resonate with previous statements made by Pierre Gramegna, Luxembourg’s Minister of Finance, that the CMU is “of the utmost importance” and that progress based on “transparent, simpler and better securitisations” needs to be made as quickly as possible.

Alex Panican, Head of Partnerships and Ecosystem at the LHoFT, moderated the subsequent panel discussion, titled “FinTech - a New Era for Securitisation”, with Oliver Schimek, CEO of CrossLend, Mark Schmitz, General Partner at Lakestar, Cees Vermaas former CEO of CME Europe, Juha Lehtola, VC Investments Manager at the European Investment Fund and Holger von Keutz, Partner and Securitisation Leader at PwC. The open discussion covered a wide range of topics, spanning from Luxembourg as a FinTech hub and startup nation to CrossLend’s role in supporting the CMU vision and BGL BNP Paribas’ role supporting the FinTech ecosystem in Luxembourg.

The evening was concluded with a speech from honoured guest, H.E. Pierre Gramegna, Luxembourg’s Minister of Finance, discussing the diversity of Luxembourg’s FinTech ecosystem and the range of services offered by Luxembourg’s financial market. Mr. Gramegna is a staunch promoter of FinTech in Luxembourg and has been a strong supporter of the CrossLend journey.

Pierre Gramegna, Minister of Finance, Luxembourg declared:

“Oliver Schimek, it is a pleasure to see you again, now in Luxembourg, after we met together in December in Berlin, where I got to know CrossLend, which we are celebrating here today as it opens its office in Luxembourg They’ve chosen Luxembourg because, in terms of securitisation, we are the leader in Europe with 1,200 vehicles [...] and we can be proud of that [...]. Congratulations to CrossLend and all the best of success here in Luxembourg.”

Laure Morsy, COO of BGL BNP Paribas commented:

“What CrossLend intends to do is really to put on the table the topic of creating a European Capital Market, and this is [...] a good reason to support the project [...] these are the topics of tomorrow, and we should give the means and attention to this issue [...]. I strongly support their project”.

Oliver Schimek, CEO & Founder of CrossLend commented:

“It was a fantastic turn out and great to see more than 350 people registering from throughout the Luxembourg ecosystem and beyond - big names from across the industry, interested in the Capital Markets Union, funding for SMEs, and CrossLend in particular. CrossLend’s mission is to make the debt ecosystem more efficient, transparent and profitable - and Luxembourg is the perfect place to achieve that.”

Olivier Selis, CEO of the Lux Future Lab commented:

“Over the last 5 years, we saw the Luxembourgish startups - and particularly the FinTech ecosystem - growing rapidly. It is very exciting to be part of this community and support a promising company such as CrossLend. By helping lenders to diversify and mitigate their risk at the single loan level, CrossLend will allow funds to flow to the real economy and unleash the true European economic potential.”

Alex Panican, Head of Partnerships and Ecosystem at the LHoFT added:

“We at the LHoFT are thrilled to support CrossLend’s development - a promising FinTech company, revolutionising Europe’s lending market. CrossLend is a concrete example of how financial technology innovation benefits not only the industry but our daily life.”

Cees Vermaas, previous CEO CME Europe:

“This technology opens new frontiers to overcome the obstacle for borrowers of a fragmented European capital market”

About CrossLend

CrossLend is a B2B FinTech company with a mission to make the European debt ecosystem more efficient, transparent and profitable. CrossLend provides securitisation as a service, transforming loans into notes on a flexible and transparent basis.

CrossLend’s innovative securitisation setup allows investors to build diversified portfolios of loans (via notes) at a pan-European level, with an emphasis on providing risk transparency. On the other side of the coin, loan originators profit from flexible opportunities to scale their lending business - opening up much-needed financing avenues to small and medium-sized businesses across Europe. A win-win-win situation for all.

Backed by an array of prestigious equity investors from Europe and the U.S. like Lakestar, CME Ventures and the Luxembourg Future Fund, CrossLend plans to establish a European Debt Exchange. In Germany, CrossLend acts as tied agent of FinTech Group Bank AG within the scope of § 2 para. 10 of the German Banking Act.

About the LHoFT Foundation

The LHoFT Foundation is a public - private sector initiative that drives technology innovation for Luxembourg’s Financial Services industry, connecting the domestic and international FinTech community to develop solutions that shape the world of tomorrow. The other partners of the LHoFT initiative are the Chamber of Commerce, the City of Luxembourg and the University of Luxembourg; the initiative is supported by the Ministry of Finance, the Ministry of Economy and the Ministry of State.

About lux Future Lab

The lux future lab is an incubator powered by BGL BNP Paribas and supports individuals at the crossroads of their professional development to improve their skills and move forward with their entrepreneurial ideas. To support their growth, the lab provides facilities, educational resources, professional services and networking opportunities. Located in the heart of Luxembourg, the lab promotes the advancement of business expertise, education and projects in an interactive and dynamic environment.

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CrossLend and Banco BNI Europa announce cooperation
Berlin, 14 February 2018

Banco BNI Europa and CrossLend have launched a cooperation whereby Banco BNI Europa invests into notes issued by CrossLend Securities SA. In this way, the FinTech-oriented bank will expand its investment into pan-European loan products, taking advantage of CrossLend’s innovative whole loan securitisation product.

“Using the CrossLend platform as a means to easily diversify our European portfolio in a standardised way has advantages for us over direct loan investments, in several ways. As a FinTech-driven bank, we seek to position ourselves in the most scaleable way. With its tech-driven securitisation product, CrossLend supports our growth and diversification. Over the last few years, we have successfully built a network of FinTech partnerships, in order to benefit from the speedy developments in the financial ecosystem in the smartest possible way. We also aim to expand our partnership with CrossLend in the near future,” says Pedro Pinto Coelho, CEO of Banco BNI Europa.

“We are very appreciative of the partnership with Banco BNI Europa. They are a great example of a highly efficient, modern bank. CrossLend aims to act as a partner to banks looking to actively manage their balance sheet, either by buying or selling exposure to loans. To investors, we can offer a broad selection of investable assets. Onboarding Banco BNI Europa as a further partner on our platform is confirmation of the value we can bring to establishedfinancial institutions,” states Oliver Schimek, CEO of CrossLend GmbH.

Banco BNI Europa has established several partnerships with European FinTech leaders across the continent and is now a key international player in the alternative finance sector. The bank showed growth of 141 per cent at the end of 2017, bringing its total assets over 500 million euro. Banco BNI Europa cited its focus on “innovative products” as a reason for its improved performance.

About CrossLend

CrossLend’s innovative, tech-enabled securitisation setup allows investors to build diversified portfolios of loans via notes in a flexible way at a pan-European level, while enjoying greater risk transparency.

On the other side of the coin, loan originators can leverage their excess lending capacity and optimise their profit. A win-win situation for all. Forms of debt securitised by CrossLend include SME loans, consumer loans and mortgages.

Backed by an array of prestigious equity investors from Europe and the U.S., including Lakestar, CME, the Luxembourg Future Fund, CrossLend plans to establish an international exchange where various forms of debt can be bought and sold. In Germany, CrossLend acts as tied agent of FinTech Group Bank AG within the scope of § 2 para. 10 of the German Banking Act.

About Banco BNI Europa

Banco BNI Europa was launched in July 2014 and is Portugal’s fastest growing, purely digital bank. Banco BNI Europa aims to challenge the traditional banking sector through strategic partnerships with fast-moving FinTech companies, enabling them to launch new products employing the most advanced technology in terms of risk analysis, consumer experience and rapid market entry. This strategic orientation furthermore allows the Bank to identify itself as a “Challenger Bank”, drawing on the logic of open architecture and differentiation. This positioning also allows Banco BNI Europa to stand out as a benchmark in the new generation of European FinTech banks and move forward with significant growth rates.

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Luxembourg Future Fund and Promus Ventures invest in CrossLend
Berlin, 10.04.2017

Berlin-based FinTech CrossLend (www.crosslend.com) has attracted further prominent investors. The company announced investments from the LFF (Luxembourg Future Fund) and US-based Fund Promus Ventures.

The Luxembourg Future Fund, which is set up by the European Investment Fund, part of the European Investment Bank group, and Société Nationale de Crédit et d’Investissement (SNCI), a public-law banking institution specialized in medium and long term financing of Luxembourg based companies, decided to invest in CrossLend, due to the Start-up’s potential impact on the Luxembourg financial landscape, among other factors.

Promus Ventures is a venture capital firm based in Chicago investing in visionary software and hardware companies mostly in the U.S. and Europe. The firm has invested in more than 55 private technology companies, including areas such as artificial intelligence, space, robotics, machine learning, computer vision, VR/AR, connected car, healthtech, fintech, insurance, and others. Promus Ventures focuses mostly on early seed and Series A stage rounds and has invested in such innovative companies as Kensho, Spire, Navdy, AngelList, Mapbox, Rocket Lab, Airware, Layer, June, Swift Navigation, Whoop, CrowdFlower and others.

CrossLend has pioneered the securitisation of individual loans into bonds via a Luxembourg securitisation vehicle. CrossLend is authorized and regulated by the CSSF.

CrossLend helps lending banks or alternative lenders by allowing them to partially offload loans via the CrossLend platform on a single loan basis. This way banks can shrink their balance sheets. Investors can invest in the bonds via the CrossLend platform and thus co-invest into the banks’ origination. Tighter equity regulations are increasingly reducing banks’ lending capacities, with the result that ever more loan requests are rejected although the respective borrowers have sufficient credit worthiness. While banks gain stability through these measures, the European economy is weakened - as middle-market companies in particular are in need of loans. At the same time, institutional investors lack access to adequate fixed-income investments. The EU Commission has already pinpointed the problem with its call for the creation of a capital market union. “CrossLend wants to help creating such a capital market, by making it possible for investors to join forces with banks to invest in their loans,” explains Oliver Schimek, founder and co-CEO at CrossLend.

“To achieve this goal, we’ve created a platform that enables investments in securitised individual loans. In doing so, we are making banks P2P-capable, while merging the advantages of the P2P approach with banks’ traditional strengths - relationships and data.” CrossLend chose Luxembourg as its regulatory home, because Luxembourg is very financial services oriented, naturally international, very open minded towards digitalization and FinTech and very supportive of Start-ups in general. CrossLend is establishing a permanent presence in Luxembourg in order to leverage the well-developed financial services ecosystem, as well as the high level of innovation at professional andacademic institutions.

The Chief Executive of EIF, Pier Luigi Gilibert comments: “CrossLend is a most interesting co-investment which will help to strengthen the Fintech industry via the Luxembourg Future Fund. The company’s innovative setup for securitising individual loans is effectively creating a new asset class which is very promising. We are excited about helping CrossLend to establish itself as a player in Luxembourg with the prospect of assuming an important role in the European debt capital market.”

The Chairman of LFF, Patrick Nickels said: “The Luxembourg Future Fund aims to stimulate the diversification and sustainable development of the Luxembourg economy. This innovative company fits exactly into the scope of our strategic sectors, for example the ICT sector in general, and the Fintech sector in particular.”

Mike Collett, Managing Partner at Promus Ventures, comments on the investment in CrossLend: “As a USbased Venture Capital firm it is often challenging to assess opportunities which innovate in a highly regulated industry in Europe. We are certain that CrossLend can become a game changer in the European and global financial eco-system. CrossLend has the right team to execute its truly grand vision.”

About CrossLend

CrossLend intermediates loans and securitises them into bonds, in which investors can invest via the CrossLend platform. The advantages of single loan securitisation: pan-European investments are possible by means of a uniform securities structure, and can be broadly diversified at a supranational level. A secondary market to be established in the near future will provide a trading venue for the bonds. In addition to the LFF, CME Ventures and Lakestar, CrossLend is financed by several other well-known venture capital companies and business angels - including Northzone and Atlantic Labs. CrossLend is currently active in Germany, Spain, the UK and the Netherlands.

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CrossLend Secures New Investor: CME Ventures
Berlin, February 9th 2017

All signs point towards growth: Berlin-based FinTech CrossLend (www.crosslend.com) has found a further prominent investor in CME Ventures, the venture capital investment arm of Chicago-based CME Group. CME Ventures is the latest investor to support CrossLend’s pioneering approach to securitising individual loans into bonds, which both private and institutional investors can then invest in via the CrossLend platform. Lending banks in particular stand to profit from CrossLend’s approach, unique in Europe, as the company also securitises loans originated by third-parties, helping free up banks’ balance sheets. Additionally, CrossLend has received a further injection of capital from its long-standing investor, Lakestar.

Tighter equity regulations are increasingly reducing banks’ lending capacities, with the result that ever more loan requests are rejected. While banks gain stability through these measures, the European economy is weakened - as middle-market companies in particular are in need of loans. At the same time, institutional investors lack adequate access to fixed-income investments. The EU Commission has already pinpointed the problem with its call for creation of a capital market union. “CrossLend wants to help create such a capital market, by making it possible for investors to join forces with banks to invest in loans,” explains Oliver Schimek, founder and co-CEO at CrossLend. “To achieve this goal, we’ve created a platform that enables investment in securitised individual loans. In doing so, we are making banks P2P-capable, while merging the advantages of the P2P approach with banks’ traditional strengths - relationships and data.”

According to Rumi Morales, Executive Director of CME Ventures: “CrossLend is our first European investment and the company’s innovative setup for securitising individual loans and making them tradable in the future over a public exchange holds a lot of promise. We appreciate the deep industry experience of the management team, their approach of working with regulators, and the potential for CrossLend to facilitate a closer capital markets union in Europe.”

About CrossLend

CrossLend intermediates loans and securitises them into bonds, in which investors can invest via the CrossLend platform. The advantages of single loan securitisation: pan-European investments are made possible by means of a uniform securities structure, and can also be broadly diversified at a supranational level.

A secondary market to be established in the near future will provide a trading venue for the bonds. In addition to CME Ventures and Lakestar, CrossLend is financed by several other well-known venture capital companies and business angels - including Northzone and Atlantic Labs. CrossLend is currently active in Germany, Spain, the UK and the Netherlands.

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The executive team

Oliver Schimek, CEO
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As CEO and founder of CrossLend, Oliver Schimek is responsible for the company’s overall business development and expansion both within Germany and across Europe. Schimek possesses extensive experience in sales of financial products: prior to founding CrossLend in 2014, Schimek held a key position at Kreditech Holding in Hamburg as Chief Financial & Investment Officer. His main responsibilities at Kreditech included the supervision of the finance department and ongoing development of the scoring model. Schimek, a data scientist, also previously founded his own company, Quantea, specialised in the development of trading algorithms and IT infrastructures for currency trading. He studied Physics and Economics at the Freie Universität Berlin.

Alex Lawrence, MD CrossLend Sàrl
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CrossLend Sàrl’s Managing Director, Alex Lawrence, is responsible for the company’s Luxembourg business, which covers Europe west of Germany and includes teams based in Spain and the UK. Lawrence started his finance career in ABS in the heady days of 2008 at the Royal Bank of Scotland. He went on to originate and syndicate EU government debt, also at RBS, during the European sovereign debt crisis that began in 2009. This was followed by five years at JP Morgan (Suisse) as a Relationship, and later Portfolio, Manager for Middle East and Emerging Market Ultra High Net Worth Individuals. Lawrence completed his MBA at the prestigious INSEAD business school in France and Singapore.

Filipe Garcia, CTO
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Chief Technology Officer Filipe Garcia advises all business sectors on the relevant technical requirements and necessities, while managing several cross-functional teams. Garcia also handles relations with third parties while ensuring a functioning infrastructure and code architecture - with a focus on security. Garcia designed the application logic behind the initial architecture of CrossLend’s B2C platform. Prior to joining CrossLend, he was lead developer for Numedo GmbH, where he was responsible for the reengineering of its forum, incorporating an online store, CMS and administration. Born in Portugal, Garcia acquired early experience in the European startup scene as co-founder of tech company Pickzee, for which he developed e-commerce, parcel tracking and accounting systems.

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