Lendo, leader in online credit for North Europe, is coming to Portugal

Lendo, the leading European lending marketplace enters the Portuguese market and becomes largest shareholder in Comparamais

• Lendo, the European leader in online credit brokerage, enters the Portuguese market
• Comparamais and Lendo want to lead the digitization of credit in the country
• Comparamais will be launching a new 100% online credit application process

Comparamais, the Portuguese specialist in comparison, has joined Lendo, the largest credit marketplace in Scandinavia and one of the largest in Europe. Through a strong investment in Portugal, Lendo becomes the majority shareholder of Comparamais and prepares to offer new digital features, as well as more advanced solutions, to facilitate obtaining financial solutions in the country.

Recognizing the potential and established position of Comparamais as the portuguese benchmark in the comparison of credit and energy rates, Lendo’s CEO, Roar Bjærum, explains that “instead of building a company organically from scratch, we decided to enter this new market in a different way than we previously have, signing an agreement to establish a partnership, which also involves an investment by us”. And, because Lendo “realized we could do great things together with Comparamais”, the option was,”instead of competing with an established player, join forces to conquer the market”.

Lendo presence in Portugal

Lendo explained that it is coming to Portugal because this is a very attractive market, with great potential for new online financing solutions. They also highlighted that the country is very well digitally prepared and has been showing a remarkable economic recovery, which was already noticed before the pandemic and is now reinforced by the forecast of a strong growth in the coming years.

The negotiations between Lendo and Comparamais occurred during the last months, in a process led in Portugal by the CEO of Comparamais, Bruno Araújo. Betting hard in the development of innovative financing solutions for the portuguese, which will make it easier and faster to obtain credit online, multiple  technological innovations already in development are being optimized by the Expansion and Technology teams of Lendo and Comparamais. The  objective is, right from the third quarter of the year, to launch new and more advanced options to obtain credit 100% online.

Bruno Araújo, CEO Comparamais

“Lendo’s arrival in Portugal is excellent news, and will accelerate the digitization of the local credit market with a compelling customer proposition. This investment recognizes the potential of Comparamais and will allow us to help more consumers apply for credit easily, quickly and safely. In the coming months we will launch a new product that will enhance our current offering significantly. We will also continue to help Portuguese families save money on their household bills, offering them the most advanced simulators to discover the best prices for telecommunications and energy. “

About Comparamais:

Comparamais is a company specialized in the comparison of energy, credit and telecommunications services. In 2020 we had more than 2.500.000 visits and helped more than 75.000 Portuguese to save a total of €2.000.000 in credit, energy and telecommunications tariffs and contracts.

About Lendo:

Founded in 2007 in Sweden, Lendo is the largest online credit brokerage company in North Europe, with a strong commitment to new financing solutions 100% online. Present in Norway, Finland, Denmark, Sweden, Austria and Spain, Lendo belongs to the Schibsted Group, one of the biggest European groups in Media, MarketPlaces, and Fintech.