-85%

est. 2Y upside i

FinTechSeries A

Stage: exit. Country: Germany

Rank

#3639

Sector

Fintech, Lending

Est. Liquidity

~5Y

Data Quality

Data: Low

High risk, low confidence.

Last updated: July 19, 2026

Bull (5%)+50%

Leveraging ING's ecosystem, Lendico's technology powers significant SME lending growth, leading to a spin-off or IPO. Implied valuation reaches $33.6M, a 50% upside from entry.

Base (15%)-20%

Continued integration with ING; minimal standalone growth. Dilution from future capital needs reduces equity value by 20%.

Bear (80%)-100%

Platform remains inactive; no revenue; preference stack of $22.4M exceeds any implied exit value. Common stock recovery is -100%.

Est. time to liquidity~5.0 years

Preference Stack Risk

severe

Funding Intensity

100%

Total funding of $22.4M likely exceeds any current fair value; common stock is deeply underwater.

Dilution Risk

high

Given the stagnant state, any future capital needs would be highly dilutive or come from the parent.

Secondary Liquidity

none

No secondary market exists; Lendico is privately held within ING with no recent trades.

Questions to Ask at the Interview

Strategic questions based on Lendico's data — designed to show you've done your homework.

  • 1

    “What is Lendico's current role within ING's SME lending strategy?”

  • 2

    “How does Lendico plan to grow revenue given the platform is inactive?”

  • 3

    “What is the typical liquidity path for employee equity in ING subsidiaries?”

Community

Valuation Sentiment

Our model estimates -85% upside. What do you think?

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Disclaimer: This analysis is AI-generated and does not constitute financial or career advice. Always conduct your own due diligence.