After launching Lendico, a peer-to-peer lending platform, Rocket Internet announced the launch of its most recent startup Zencap, a digital credit marketplace for small and medium-sized enterprises in Germany.
“About 99 percent of all companies in Germany are small or medium-sized. In total they reach an annual revenue of 2 billion Euros, which makes them the backbone of the German economy,” explains Dr. Christian Grobe, founder and director of Zencap.
Credit financing is still a bureaucratic and tedious process that causes a lot of frustration and, according to Zencap, 20 percent of all credit negotiations fail. This is where Zencap wants to jump in. As an alternative for traditional banking, Zencap gets entrepreneurs and investors together without involving banks to give businesses better flexibility in how they finance.
The three currently listed projects on the website are looking to raise €25,000, €50,000 and €150,000. One project titled “Pre-financing of long distance trips” (Vorfinanzierung von Fernreisen) seeking €25,000 has already raised 64% of its goal. With another 17 days left, let’s see if Zencap can provide the help needed to raise another €8,900.
Image Credit: Zencap
This story originally appeared on VentureVillage. Copyright 2014