Tag Archives: loan originator

PeerBerry peer-to-peer lending marketplace overview

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PeerBerry launched on the 1st of November 2017 with loans originated primarily by Aventus Group and its subsidiaries. Since, they have started adding other credible European loan originators to diversify the investment opportunities. PeerBerry strongly believes that passive income guarantees stable economy and better lifestyle hence their mission is to bring passive income to everyone.

Aventus Group is an international successful payday lender, founded in 2009. Profitable from its first year of operations, Aventus Group has created the team of experienced specialists and now holding strong positions in the Czech Republic, Latvia, Poland, Georgia, Ukraine, Kazakhstan and Moldova. The company puts a strong emphasis on responsible lending. Aventus Group brings to PeerBerry 3 leading loan originators from across Europe.

PeerBerry is a peer-to-peer marketplace for private lenders to invest into loans originating from non-banking lenders – the Aventus Group and its daughter companies. Portfolios of non-banking borrower requests mainly consist of short-term consumer loan requests across Europe. Unlike traditional banking they offer private investors access to the non-banking lending sector.

Who is eligible to invest?

Individuals and companies from within European Union can become investors at PeerBerry. Join us: complete a short registration form and activate your investor account by depositing initial funds. Keep in mind that you must be at least 18 years old, and that we only accept deposits from credit, payment or electronic money institutions within the European Union.

In what currencies can investments be made?

Investor Account can be opened only in EUR, but they accept deposits in all currencies. Payments received in currencies other than EUR will be converted to EUR according to the Swedbank currency exchange rates.

How can funds be transfered?

You can transfer money to your investor account from your bank account registered in European Union. Transfers in EUR can be done easily and at low cost using SEPA (Single Euro Payments Area) transfers.

Investing

Both manual and auto-investment are availabile. All loans come with a 60 days buyback guarantee. PeerBerry will buyback loans (principal amount and accrued interest for full term), if a borrower is over 60 days late with the repayment.

Auto Invest automatically implements your chosen investment strategy. After you have entered your investment criteria, Auto Invest will automatically invest in suitable loans. You can access Auto Invest at any time and follow your portfolio activity in real time to make sure it is working according to your investment goals. Auto Invest is a very efficient tool for saving time spent on investing activities.

You can pause or cancel Auto Invest at any time.

Once you have confirmed your investment criteria, Auto Invest will review loan listings and invest funds in loans that meet your preferences. Auto Invest will continue to automatically analyze and invest in suitable new loans as soon as they are listed. If you change any Auto Invest setting, all available loan listings will be rechecked to make sure they meet your investment criteria.

Can investors cancel the investments?

For investments to long term loans investors have an option to use “Sell back”. Sell back means that you will get invested money into particular loan and counted interest after 14 days the Sell back option is activated. For this service extra fee will be charged. Unfortunatelly, approved investments to short term loans cannot be cancelled. To get your funds back you need to wait until the loan agreement is closed or a Buyback Guarantee is activated.

Loan originators

Pujcka7

Pujcka7 has been operating on the Czech Republic market since 2012. The company is a member of the APNÚ (Association of Non-Bank Loans Providers). Pujcka7 pays great attention to the assessment of clients’ finances and commitments. Since the beginning more than 70 000 satisfied clients have put trust in their services. Not in vain the company is recognized as one of the most favorable non-bank loans lenders in Czech market.

Key figures of Pujcka7:

Amount of issued loans in 2017: 94.038.637 CZK;

Revenue in 2017: 45.074.452 CZK;

Active portfolio at the end of 2017 (where overdue is less than 90 days): 21.456.509 CZK.

Smart Pożyczka

Smart Pożyczka was launched 4 years ago in Poland. From the beginning, the company has focused on innovative IT solutions and big data analysis for effective risk management. The company is proud of reliable clients and their feedback which encourages daily improvement. Over 60% of customers come back to Smart Pożyczka and use smart and simple way to take repeated loans.

Key figures of Smart Pożyczka:

Amount of issued loans in 2017: 54.291.475 PLN;

Revenue in 2017: 16.994.631 PLN;

Active portfolio at the end of 2017 (where overdue is less than 90 days): 11.899.558 PLN.

Pożyczka Plus

Pożyczka Plus is a consumer loan provider profitably operating in Poland since 2012. The company is a member of Loan Companies Association and has won numerous awards in the local market. Since launch, Pożyczka Plus has granted loans to over than 250 thousand customers. In past years the company increased its market share by 15%. The customers are highly satisfied with a trustworthy, innovative and fast service. Consequently, Pożyczka Plus is one of the most innovative lenders in Poland.

Key figures of Pożyczka Plus:

Amount of issued loans in 2017: 47.695.134 PLN;

Revenue in 2017: 14.929.806 PLN;

Active portfolio at the end of 2017 (where overdue is less than 90 days): 10.453.778 PLN.

SOSCredit

Despite strong competition in just a few years after launch SOSCredit has established itself as one of the key players in the Czech Republic and is highly rated by its clients. SOSCredit has managed to achieve this through innovative IT solutions that enable quick and reliable risk assessment and loan decisions in just 15 minutes. Customers love the speed, quality customer service and transparency with no hidden fees or commission.

Key figures of SOSCredit:

Amount of issued loans in 2017: 65.637.700 CZK;

Revenue in 2017: 37.728.388 CZK;

Active portfolio at the end of 2017 (where overdue is less than 90 days): 19.385.621 CZK.

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ViaInvest peer-to-peer lending marketplace overview

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VIAINVEST is a peer-to-peer marketplace for private lenders to invest into loans originating from non-banking lenders – the VIA SMS Group and its daughter companies. Portfolios of non-banking borrower claims mainly consist of consumer loan requests across Europe.

Unlike traditional banking VIAINVEST offers private investors access to the non-banking lending sector through a simple process.

Borrowers request funding from the VIA SMS Group, the active contract automatically is then mirrored on VIAINVEST making it available for public investment. Each investor has full control of how much he wants to invest, to whom and in which loan. VIAINVEST guarantees a transparent investment environment and full investor support at any time.

VIAINVEST is a part of VIA SMS group – financial services provider operating across Europe. Since its founding in 2008 the company currently operates in 5 countries and has grown into one of the leading European consumer lenders. Company headquarters are located in Riga, Latvia.

ViaInvest in numbers

  • Total value of issued loans in 2017: 96 813 701 EUR
  • Net loan portfolio in 2017: 18 022 102 EUR (+23%)
  • Average size of issued loan: 349 EUR
  • Average annualized interest rate on loans to customers: 115%
  • Revenue in 2017: 20 122 313 (+22%)
  • Non-performing loans to total issued loans: 6.5%
  • Total number of employees around the world: 157
  • Registered investor: 4696
  • Average investor deposit: 4256 EUR
  • Average interest rate of investments: 10.2%

Who is eligible to invest?

Both private and legal entities are welcome to become investors at VIAINVEST. To begin private investments as an individual, you must be at least 18 years old, must complete the registration process and make the first deposit to your VIAINVEST investor account (VIAINVEST accepts payments only from banks within the European Union). If personal information stated in your investor profile matches the bank information of the person transferring funds to the VIAINVEST platform, the investor profile becomes active and you are able to start investing.

Similar requirements also apply to the legal entities – to start investing, the legal entity must register to open the investor account and make the first deposit. If the information provided upon registration matches the company information appearing when transferring funds, investor account is confirmed. Payments made by legal entities are also accepted if transferred from the bank operating within the European Union.

In what currencies can investments be made?

Investor Account can be opened only in EUR, but VIAINVEST accepts deposits in all currencies. Payments received in currencies other than EUR will be converted to EUR according to the Swedbank currency exchange rates.

How can funds be transfered

Deposits to the investor account can be easily made by transferring funds to the ViaInvest bank account.

For investor identification purposes the first payment must be transferred from the personal investor bank account operating within European Union. The payments are processed within 2 work days.

Investing

In order to begin investing investors need to meet the minimum 2 requirements:

There are two options how to make investments:

  • Manual investing – control what loan contracts you would like to invest into and how much:
    1. browse the loans contract listing currently listed on VIAINVEST in the primary market section and pick and choose how you want to build your portfolio,
    2. make full or partial investments into selected listings.
  • Auto-investing – save the time and invest into several loan contracts at once by letting the auto-invest feature to do the work for you:
    1. set the preferred criteria for your auto-invest portfolio,
    2. take your earnings and reinvest them into other loan contracts,
    3. fully automate the investment process without having to log in, manage your investments by changing auto-invest criteria or cancelling this option at any time.

All investments are made in EUR.

Tax issues

As income generated on VIAINVEST is a subject of Withholding Tax, VIAINVEST offers investors to choose 2 ways how these commitments can be handled:

1. Withholding Tax can be applied to the income generated on VIAINVEST within the platform. If the investor does not provide required documents and agrees that his income will be taxed within the platform, no additional actions are required. Income generated on the platform will be taxed according to the legislation of the loan origin country.

2. For Withholding Tax not to be applied to the income within the platform, the investor must take full responsibility of handling these commitments by himself and provide (upload to the investor profile) the copy of personal Tax Certificate issued by the tax authority of the country of investor’s residence. Tax Certificate must be provided before making any investments. If the certificate is not provided all earnings will be taxed in accordance with the appropriate Double Tax Treaty. If the Tax Certificate is uploaded after some investments are made, previously withheld taxes will not be returned to the investor. Only investments that are made after the upload of the Tax Certificate will not be taxed on the platform.

To provide appropriate Tax certificate, please note that income generated on VIAINVEST are paid to investors by loan originators, not the platform itself. Tax Certificate confirms the existence of Double Taxation Convention between the country of investor tax residence and loan origination country/-ies (in this case – Czech Republic, Spain, Latvia). Without a Tax Certificate all earnings will be taxed in accordance with the legislation of the loan origin country – if the loan origin country is Czech Republic – Withholding Tax is 15%, if Spain – 19%, if Latvia – 23%, Poland – 19% for private individuals and 20% for legal entities. Please note that there may be specific cases where Tax/Residence Certificate foresees that investors still need to pay a part of taxes on the platform.

It is required for investors to provide separate Tax/Residence Certificates for each loan origin country. Tax/Residence Certificate must confirm the existence of the treaty for the avoidance of double taxation concluded between the countries of loan origin and investor tax residence.

Future plans

  • Expanding the loan originator list: currently there are 4 loan originators: VIA SMS Ltd. (SIA VIA SMS) in Latvia, VIACONTO MINICREDIT, S.L. in Spain, Via SMS s.r.o. in Czech Republic and VIA SMS PL Sp. z o.o. in Poland. ViaInvest will be introducing a new loan originator from Sweden soon.
  • Planning on launching a VIAINVEST mobile app, in the near future

 

 

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New structure for investments in Lendo loans on Mintos peer-to-peer lending marketplace

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Starting from August 3, 2017, there will be a new structure for investing in Lendo loans on the Mintos marketplace. The new structure stems from new regulations imposed by the local supervisory authorities in Georgia, where Lendo operates.

How will the new process work?

To obtain exposure to Lendo loans, investors will be able to invest in loans issued by Mintos OU to Lendo, where repayments depend on the final borrower’s payments. Each loan issued by Mintos OU to Lendo will be pegged to a respective loan issued by Lendo to the final borrower.

Mintos OU is a Mintos group company. A detailed description of the new structure is available in the Mintos OU loan contract and assignment agreement.

How will the new structure affect investors?

Investors making investments according to the new structure will still gain exposure to Lendo-issued loans. Previously, investors had a direct claim against the final borrower; now, investors will have a claim against the loan originator – Lendo.

Because investments made will still be pegged to the loan performance of loans issued by Lendo, current Auto Invest functions for investing in Lendo loans will remain valid for loans placed on the Mintos marketplace under the new structure. If the change in investment structure affects your investment preferences, please be sure to adjust your Auto Invest settings accordingly.

About Lendo

Lendo joined the Mintos marketplace in July 2016, and has since become one of the top loan originators on the marketplace. The company offers investments in short-term unsecured loans issued in the largest cities in Georgia. So far, Lendo loans worth more than EUR 80 million have been funded through the marketplace.

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Credissimo joins Viventor peer-to-peer lending marketplace

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Credissimo, a Loan Originator from Bulgaria joins Viventor peer-to-peer lending marketplace.

Established in 2007, Credissimo currently operates in Bulgaria and Macedonia, and is about to commence operations in Poland.  Since inception, the company has issued over 280’000 loans with total worth of more than 84 Million Euros.
Credissimo loans listed on Viventor marketplace:

  • 100-1250 EURO’s in size
  • 3-24 month’s in duration
  • 10%-11% projected annual return
  • 60 days Buyback Guarantee from Credissimo

The lender will retain at least 5% of every single loan and bear the currency risk by listing its products in Euros. All loans of Credissimo are projected to make monthly repayments, ensuring frequent and stable cash flow.

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Georgian Microfinance Organization BIG joins Mintos marketplace

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New loan originator from Georgia joins the Mintos peer-to-peer lending marketplace. Microfinance Organization BIG will offer investors the opportunity to invest in micro business, car, and agricultural loans to earn up to 17% annually.

BIG is one of the leading microfinance institutions in Georgia with nine years of experience issuing loans to small-and medium-sized businesses such as small retail stores, providers of various services, and family farms.

On the Mintos marketplace, BIG will offer investors the opportunity to invest in micro business, car, and agricultural loans denominated in Georgian lari (GEL) and ranging from GEL 300 to GEL 50 000. Loans will have a repayment period of up to three years. BIG will offer a buyback guarantee for loans that are delinquent for more than 60 days. To retain its skin in the game, BIG will keep at least 5% of each loan placed on the Mintos marketplace on its balance sheet.

BIG employs 245 people and operates 10 branches across Georgia, including in rural area centers. The number of active BIG customers recently exceeded 7 800. In 2016, the company’s gross loan portfolio reached EUR 11.4 million. BIG’s vigilant underwriting policy ensures that the share of loans with payments delayed by more than 30 days is under 4%.

BIG has demonstrated sustainable financial growth since its founding in 2008. The company has been profitable for the past nine years, delivering EUR 280 000 in net profit in 2016. BIG closed 2016 with a strong position of EUR 13.4 million in assets and EUR 3.2 million in equity. The company has a diversified funding structure, with shareholders contributing 40% of total funds and 28% of funds coming from international microfinance investment vehicles.

BIG pays special attention to Corporate Social Responsibility standards in the company’s day-to-day operations. The company requires its loan officers to attend special responsible sales trainings and supports an array of social entrepreneurship initiatives. These efforts have granted BIG a social rating from MicroFinanza, the internationally-recognized ratings agency.

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GetBucks, Africa’s leading alternative lending company, joins Mintos marketplace

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GetBucks, part of the Frankfurt-listed fintech company, MyBucks, has started placing short-term personal loans issued online in Poland on the Mintos marketplace. MyBucks operates across three continents – Africa, Europe, and Australia. It is planned to offer loans issued in Africa on the Mintos marketplace soon.

The average loan GetBucks will place on the Mintos marketplace is EUR 250, with a repayment period of 30 days. The loan originator will offer investment opportunities in both euro (EUR) and Polish Zloty (PLN). The average annual net return to investors will reach 11%.

GetBucks will further offer a buyback guarantee for loans that are delinquent for more than 60 days and will keep at least 5% of each loan available on the Mintos marketplace on its balance sheet.

The Luxembourg-registered MyBucks Group is the first African fintech company to be listed on the Frankfurt Stock Exchange. In 2017, the company also successfully listed bonds on the Vienna, Botswana, and Zimbabwe stock exchanges to refinance existing debt facilities and to expand its loan book. Current market capitalization of the company is in excess of EUR 170 million.

Over the last three years, MyBucks Group’s revenues have grown by approximately 163% per annum, and its loan book has almost doubled during the last year alone, standing at EUR 77.2 million at the end of 2016. The company’s revenue in the first half of 2017 has reached EUR 25.7 million with an operating profit of EUR 10.2 million.

GetBucks has developed unique credit scoring technology with self-learning algorithms that allow the company to keep a low default rate below 8%. The company distributes its product portfolio through digital channels and internet service points, which has allowed it to scale rapidly while also managing its credit risk effectively.

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Consumer finance company IuteCredit has joined the Mintos marketplace

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Consumer finance company IuteCredit has joined the Mintos marketplace and is placing personal loans issued in Albania on the marketplace. IuteCredit Group is an Estonia-based company that operates in Albania and Moldova. It aims to be the fastest and most comfortable credit provider in the region.

The average annual net return for IuteCredit loans offered to investors is expected to reach up to 14%. The average loan placed on the Mintos marketplace will be for EUR 500-700 with a maturity of 12-18 months. Loans delinquent for more than 60 days will be covered by a buyback guarantee. To retain its “skin in the game”, the company will keep at least 10% of each loan available on the Mintos marketplace on its balance sheet.

Since its founding in 2014, IuteCredit Albania has issued 20 000 consumer loans ranging from EUR 75 to EUR 1 500. The company’s loan portfolio has reached EUR 3.4 million. The average share of loans 30 days past due is 14%. To sustain its operations, the company employs a team of 24. The company’s operations are regulated by the Central Bank of Albania.

Apart from its operations in Albania, IuteCredit Group owns a subsidiary in Moldova, founded in 2008. The management of IuteCredit Group is also considering placing loans issued in Moldova on the Mintos marketplace in the near future.

IuteCredit Group has been profitable since 2010 and is audited by Ernst & Young. As of May 2017, the Group’s consolidated loan portfolio exceeds EUR 10 million. The company has more than 120 000 customer relationships and more than 35 000 loans outstanding. The average maturity of loans is 11 months, and the annual percentage rate (APR) is 70%. Historically, more than 90% of loans issued have been repaid in full.

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First loan originator from China joins Mintos marketplace

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New loan originator from China joins Mintos peer-to-peer lending marketplace! PangMaoBao will offer investors to invest in invoice-financing loans. PangMaoBao is a part of Zhaogang group, the biggest e-commerce platform in China connecting steel makers and buyers. PangMaoBao provides supply chain financing against outstanding invoices to well-known companies such as Amazon, Disney, DHL, Siemens and others.

The average loan that PangMaoBao will place on the Mintos marketplace will have a repayment period of 30 to 90 days. The loan originator will initially offer investment opportunities in EUR and USD.

It is expected that the average annual net return to investors will be around 6-7%. PangMaoBao will offer a buyback guarantee for loans that are delinquent for more than 60 days. To retain its “skin in the game”, PangMaoBao will keep at least 5% of each loan available on the Mintos marketplace on its balance sheet.

Since its start in May 2015, PangMaoBao has reached 2 300 registered customers, and more than EUR 27.3 million in loans have been issued to date. In 2016, the company issued loans worth EUR 17 million and generated EUR 1.1 million in revenue.

PangMaoBao ensures comprehensive and detailed credit assessment and risk control. By accumulating real-time data from Zhaogang to aid in risk management, they have ensured a bad debt rate of 0%, meaning investors face relatively low risk when investing in these loans.

Founded in 2012, Zhaogang is the biggest e-commerce platform for the steel industry in China. Zhaogang is based in Shanghai and has more than 1 400 employees. Zhaogang operates 46 branches throughout China and Asia, including branches in South Korea, Vietnam, Thailand and the United Arab Emirates. Its revenue reached RMB 14.1 billion (EUR 1.9 billion) in 2015. Zhaogang has received backing from major venture capital firms in both China and abroad, including IDG, Sequoia Capital, Matrix Partners China and Zhen Fund. In January 2016, Zhaogang completed RMB 1.1 billion (EUR 151 million) series E round of financing, potentially the last round of financing before it is listed on the domestic stock market.

Zhaogang has received high praise in the industry, including the following awards: “2016 China’s Annual Innovation and Growth of 100 Enterprises, 2016 Best Internet Finance Social Responsibility Award”, “Top 100 China’s Internet Companies of 2016”, and others.

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Capital Service joins the Mintos marketplace

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New loan originator from Poland joins the Mintos marketplace! Capital Service has joined Mintos and, starting 23/03/2017, will place installment loans issued on- and offline in Poland on the platform.

Capital Service operates the second-largest non-bank lending branch network in Poland. The company  was founded in 1999 and has accumulated significant experience in consumer lending over the past 18 years. Capital Service loans placed on the marketplace will range in size from EUR 250 to EUR 3 600, with a repayment deadline of 3 to 48 months. The net annual return is expected to range from 10% to 12%. For each loan placed on the Mintos marketplace, Capital Service will retain at least 10% on its balance sheets – part of its “skin in the game.” Capital Service will offer a buyback guarantee for loans that are delinquent for more than 60 days.

Investment opportunities from Capital Service will be offered in euro (EUR) and Polish zloty (PLN).

Capital Service employs more than 430 people. Since beginning operations, it has gained more 51 000 active customers. Last year, Capital Service had a revenue of EUR 19.2 million, with profit before tax slightly above the EUR 1.8 million mark. Its equity stood at EUR 5 million at the end of 2016. The share of loans overdue by more than 60 days in the company’s portfolio is 7.5%.

Capital Service’s mission is to provide customers with simple access to cash – quickly, conveniently, at any time, in any place and at a reasonable cost. The company uses the newest IT solutions to allow for fast and efficient data processing and loan issuing decisions.

To date (23/03/2017), 21 loan originators have joined the Mintos marketplace, ensuring investors with wide investment options.

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New loan originator on Mintos marketplace – Mozipo Group

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One of Lithuania’s biggest online consumer loan lenders has joined the Mintos marketplace! Starting 22/03/2017, Mozipo Group will place short-term personal loans issued in Lithuania under the Moment Credit brand on the platform.

Loans that Mozipo Group will place on the Mintos marketplace are expected to range from EUR 100 to EUR 3 000, with a repayment period of 3 to 36 months. The loan originator will offer investment opportunities in euro (EUR).

The average net return to investors is expected to be around 12%. Mozipo Group will offer a buyback guarantee for loans that are delinquent for more than 60 days. To retain its “skin in the game,” Mozipo Group will keep at least 10% of each loan available on the Mintos marketplace on its balance sheet.

Mozipo Group has been operating for more than ten years. The Group is known in the industry as a reliable, transparent and responsible non-bank financial institution. Currently, Mozipo Group works in Denmark, Lithuania and Romania, and plans to expand to other European countries. The company currently employs more than 60 people.

Mozipo Group issues unsecured personal loans. Since beginning its operations, the Group has served more than 200 000 customers. The company has issued 620 000 loans worth over EUR 125 million. Last year, Mozipo Group earned EUR 3.9 million in revenue, with a net profit of EUR 526 000. Their loan portfolio was EUR 9.3 million. The company plan to issue loans worth EUR 23 million this year.

Mozipo Group’s average client is a 36-45 year old city resident with an average monthly income. Issued loans are primarily used to cover daily and unexpected expenses.

An effective risk scoring system reduces the number of non-performing loans issued, thereby increasing Mozipo Group’s competitiveness in the market.

All of the fundamental and operational business-related processes in Mozipo Group are managed in-house, which ensures high quality service. The Mozipo Group IT department has created a unique self-learning Scoring System as well as an automated Business Management System for Lithuania; these are also easily adapted for other countries.

The company’s mission is to make consumer lending more efficient by using technology to connect money with people in the simplest and fastest way possible.

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