Germany’s financial regulator BaFin has authorised CrossLend to provide financial services in the form of investment brokerage as company pushes forward with international expansion

11.02.2020

CrossLend has received approval from Germany’s Federal Financial Supervisory Authority, BaFin, to broker investments in accordance with Section 32 of the German Banking Act (KWG). Applying for the BaFin authorisation was the next logical step in CrossLend’s development to further strengthen market confidence and accelerate international growth.

Due to passporting, the authorisation granted to CrossLend to provide financial services in the form of investment brokerage extends across the entire European Economic Area (EEA). The development represents an important milestone in the sustainable expansion of the company’s business, enabling further institutional lenders and institutional investors in the EEA to access the CrossLend’s digital debt marketplace.

At the start of this year, CrossLend inaugurated new offices in Frankfurt am Main and Vienna, adding to its current locations in Berlin, London and Luxembourg.

About CrossLend

CrossLend is a digital debt marketplace with a mission to make the world’s lending and investment ecosystem more efficient, transparent and profitable. By means of an innovative securitisation solution, CrossLend seamlessly connects originator supply with institutional investor demand, creating beneficial opportunities for both. With lenders empowered to lend more and investors able to deploy their capital more efficiently, liquidity is available to flow where it is needed: a win-win situation for all. CrossLend is backed by an array of prestigious equity investors from Europe and the US, including Santander InnoVentures, Lakestar, CME Ventures, Earlybird, ABN AMRO’s Digital Impact Fund, solarisBank, finleap and the Luxembourg Future Fund (EIF and SNCI). CrossLend is working to create a secondary market which, together with its primary market, will further strengthen its efforts to make the Capital Markets Union a reality.

www.crosslend.com

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