Flender, a marketplace lending platform in the UK, is seeking to raise 500,009 british pounds from an equity crowdfunding campaign on Seedrs; the company offers P2P loans through a mobile application; the firm's business model seeks to connect borrowers with lenders in their social network helping to facilitate social network lending. Source
Flender has launched a marketplace lending platform to facilitate social network lending for individuals and businesses; during its pilot period it successfully financed social network borrowing in Ireland for business startups, small business expansion, car finance, home improvements and student loans; the launch follows a successful Seedrs fundraising campaign that raised 500,000 British pounds ($608,680). Source
Marketplace lending platform Flender has reached its investment goal on Seedrs; firm has received investment of 500,000 British pounds ($608,680); the firm's crowdfunding campaign will close on January 17 and it plans to launch in the first quarter of 2017; the platform will provide innovative business credit services that facilitate lending through a borrower's social network. Source
The firm recently launched in Ireland with a peer-to-peer platform lending model that integrates a borrower's social network in the lending process; it has received Financial Conduct Authority approval and says the additional funds will help it to launch in the UK; the firm is seeking GBP2 million ($2.60 million) in equity funding and will also potentially add more debt funding; Oli Cavanagh, founder of Flender, says he expects most of the funding to come from institutional investors. Source