Lenno becomes a London-based Fintech

After long consideration, all companies of the Lenno Group will become direct or indirect subsidiaries of Lenno Limited.

Lenno becomes a London-based Fintech

Despite the unclear exit from Brexit, the company chooses London for its new strategic home. In the coming weeks, all companies of the Lenno Group will become direct or indirect subsidiaries of Lenno Limited, a company registered in England and Wales.

Brеxit or not, soft or hard, London will remain the financial capital of Europe for another thousand years. No other European city will be able to offer financial companies what London can, and those who relocate under Brexit's pressure will lose their competitiveness — comments George Tonkov, Chairman of the Board of Directors. 

Part of Lenno Limited's subsidiaries will be:

Lenno JSC – financial institution registered with the Bulgarian National Bank in 2013. With over BGN 20 mln. in originated loans, the company ranks among the leaders in the niche of collateralized non-bank lending and an absolute innovator in financing for traders.

Lenno Iberia S.L - company providing consumer, mortgage and business loans in Spain.

Lenno Global Advisory JSC – investment intermediary, licensed by the Financial Supervision Commission for the first time in 1999, 100% of the shares of which were acquired by Lenno JSC at the end of 2017. The company holds over BGN 55 mln. of clients' assets (as of 31.01.2019), is a member of the Bulgarian Stock Exchange and the Central Depository.

Earlier this week, the management of Lenno JSC confirmed that Lenno raised additional BGN 7 mln. among debt and equity and the deal values the company at over BGN 64 mln.

The investors are once again from Japan and are of extreme strategic importance for Lenno's future. We will work hard in several directions- to offer the best non-bank mortgage and business lending in Bulgaria, to finance traders from all over Europe, to provide the best spreads and execution on over 1000 financial instruments, to launch second trading platform, to hire 150+ professionals based in Plovdiv, Sofia, London, Madrid and Vilnius — adds George Tonkov. 

Thus, the financial holding Lenno already manages over BGN 30 mln. of assets, and the services it provides include: mortgage, business and consumer loans, financing for traders, investment services, trading in various financial instruments, including forex, stocks, indices, commodities and cryptocurrencies.

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