Cembra Money Bank (Cembra) signed a long term agreement with Lendico Schweiz AG (Lendico), a 100% subsidiary of PostFinance AG, to finance small business loans sourced via the Lendico online platform. Lendico is an SME loan marketplace active in Switzerland since the end of 2016, based in Zurich. Under the agreement, Cembra will be a preferred partner for financing of SME loans sourced by Lendico and consolidate them on the Cembra balance sheet. Lendico will continue to service the portfolio once the loans have been financed. In addition to financing, Cembra will provide collection services for the portfolio financed by Cembra.
Walder Wyss advised Cembra on the overall structuring and all Swiss legal, tax and VAT aspects of the transaction. The Walder Wyss team included Lukas Wyss (Partner, Finance), Markus Pfenninger (Partner, Finance), Valentin Wiesner (Associate, Finance), Jorgos Boulamatsis (Trainee, Finance), Maurus Winzap(Partner, Tax), Jan Ole Luuk (Counsel, VAT) and David Vasella(Counsel, Data Protection).
