What is Lendify about?
Lendify is the first and leading peer-to-peer lending platform focused on prime borrowers in the unsecured consumer credit space in Sweden. We have handled loan applications for over SEK 350 MM and more than 3,000 lenders and borrowers have signed up since launch in August 2014.
What are the three main advantages for investors?
- High risk-adjusted returns.
- Access to unsecured personal loans extended to prime borrowers in a very low-default rate market (Sweden) with many years of well documented historical data.
- A new type of investments that further diversifies a mixed investment portfolio.
What are the three main advantages for borrowers?
- Personalized interest rate.
- Transparent (all interests and fees are clearly presented and available to all site visitors)
- Simple and fast process for applying and monitoring (borrowers can log in and see status of payments etc.)
It is still early days for P2P lending in Sweden but we expect 7% on average.
Lendify received 2M EUR in funding recently. Who are the backers?
Fredrik Wallenberg, Hans Westin & Sten Schröder where the two latter have a great track record in the Swedish consumer lending space.
Is the technical platform self-developed?
Yes, everything is developed in-house.
What was the greatest challenge so far in the course launching Lendify?
Being the first in a market is great, but it also provides challenges out of a marketing and regulatory perspective. Not many people in Sweden are aware of the concept “peer-to-peer lending”, and we work hard to educate people of the concept. Continue reading