P2P Lending News

Comunitae, the leading Spanish P2P lending company, recently announced in their July newsletter that they had funded 10 loans during their first month of activity. Comunitae launched in June after about a month of beta testing. Ever since their launch, Comunitae has been mobbed by the Spanish media, including print, radio, and television.

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Comunitae, the first announced peer to peer lending site in Spain, upped the ante in their February 2009 Newsletter, saying “falta muy poco” (the wait is almost over) before Comunitae can become the first P2P lending site to launch in Spain.

The newsletter says everything is ahead of schedule, and that they are finalizing details for the launch in the second trimester [of 2009, presumably]. Also included is a link to a Twitter account for Comunitae (with two tweets to date), the promise of a soon-to-come blog, and a list of the company’s management team. The team includes a CEO, CFO/biz dev, Operations, Technology, Credit/Risk, and Communications. Funnily enough, the spanish title for the director of communications is “Director de Comunicación y Community Manager”. They don’t translate “Community Manager”.

Comunitae is racing against Lubbus to be the first social lending site in Spain. With 2 million Euros in funding, Comunitae probably has more resources; Lubbus has not announced any funding to date.