Interview_ flender pitches to raise 500k _ p2p-banking

Businesses can leverage their customer base and strengthen loyalty; while friends become part of each other’s’ success. Saraswat bank fd interest rates 2013 Flender does this while adding a new element of trust via social network connections.

Flender emphasizes the social relationships between borrowers and lenders.

All bank interest rates for fixed deposit Don’t you think borrowers are hesitant to ask friends and connections for money?

The social lending market among friends, family and connections has never been formalized, which is crazy when you consider that this is a market worth over 3 billion EUR a year in Ireland and the UK based on independent research performed in September 2016.

Asking people that you know for money – and lending to them – is an awkward thing to do and is certainly an unreliable means of finance. Highest bank interest rates in usa Whether it’s to fund further study, grow a business or to fund home improvements, Flender will let you borrow from and lend to people with whom you have a connection much more easily.

For individuals, there is the satisfaction of helping others while earning more interest than a standard savings account while businesses can have access to funds faster and at the interest rate they prefer. Bank of india fd interest rates 2013 calculator Everyone wins.

P2P lending has evolved a lot over the past 10 years. Bank interest rates for fixed deposit Your model has a back to the roots touch to me. Bank interest rates on savings Do you see your model as a reinvention of the true spirit of p2p lending?

We have all lent or borrowed money at some stage of our lives and will use some sort of finance in the future – be it mortgage, car leasing, credit card, deposit account or investments. Bank interest rates on fixed deposits Similarly, we all have people in our social circles and professional networks who have money to lend or are looking for finance. Saving bank interest rates It makes no sense that rather than doing these transactions with people who you know and trust we would do these with complete strangers with whom we know little or nothing.

Flender is not trying to create a new marketplace. Bank deposit interest rates nz We are simply formalising existing massive social lending market and by providing a seamless user experience and having first- mover advantage we feel we can dominate this sector.

Flender positions itself as different to other p2p lending marketplaces. Bank loan interest rates comparison Yet you take these as benchmarks for valuations in an exit. Bank rate interest rates Furthermore your expected margin is much higher than those of other UK p2p lending marketplaces. All bank interest rates for personal loan What is the reasoning behind this?

Yes, we are very different to other p2p platforms, but investors will initially want to benchmark against something with which they are familiar, hence our comparison to existing platforms.

We can generate larger margins because we are not marketing to users based purely on price. Federal bank interest rates on fd Lenders are not coming to Flender simply looking for a higher return and borrowers are not always just looking for cheap money. Highest bank interest rates uk Businesses also want to increase loyalty with their customers for instance.

We have a legal framework in place to launch in both the UK and Ireland. Indian overseas bank interest rates on fixed deposits 2014 We have spent a considerable amount of time and money to achieve this.

We would hope that in the future there will be EU directive in place that will help innovative fin-tech companies to launch in new markets much quicker and more economically. Hdfc bank fd interest rates for senior citizens Until that point we will use the knowledge that we have gained from working with UK and Irish regulators with our regulatory talks in other jurisdictions.

I see Flender as being market leader in social lending in multiple countries and possibly in M&A talks with traditional P2P lenders or major banks or other credit institutions.

Flender is an innovative company with a fantastic team and strong backers. Current bank interest rates australia Our addressable market is larger than any of our competitors, and the existing market size is close to doubling in size year on year.

This is a unique opportunity for investors to become part of Flender’s success. Latest bank interest rates for car loan Valuation of our company will be very different next year once we launch our platform and start generating revenue. All bank interest rates list It is possible that we won’t have to do new round of equity raise again and instead will raise debt equity (i.e. Fixed deposit interest rates in indian banks latest people will flendit to us!) through the Flender user base itself – so come and join us while you can!

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