Ron Burgundy Posted May 1, 2015 Share Posted May 1, 2015 Rocket Internet, a tech investor focused on emerging market ventures, has reduced its stakes in two of its Europe-focused financial services start-ups after facing setbacks there, Germany's Spiegel magazine said. Lending site Lendico had all but retreated from three of the six countries where it had been operating, while corporate lending site Zencap made fewer than 200 loans to small firms with a total value of 14 million euros ($16 million) in its first year, Spiegel said, without specifying its sources. Berlin-based Rocket has also had to contend with a setback in its recent move to invest in food delivery group Delivery Hero, a competitor to Foodpanda, a similar business Rocket controls that is active in 40 countries. Spiegel said Rocket had been unable to win a seat on Delivery Hero's supervisory board despite taking a 39 percent stake in the company. View the full article Quote Link to comment Share on other sites More sharing options...
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