P2P lending platform Solvesting rolls out in Kenya

MM

Melisande Mual

16 Feb 2015 / 5 Min Read

Solvesting describes itself as a hybrid crowdfunding-lending platform that adds a layer above local lenders to resell loans to retail and institutional investors via an online marketplace.

The platform rates and screens loans using proprietary credit-risk assessment algorithms, while also providing currency hedging. Its goal is to connect retail and institutional investors from around the world to local financial institutions, providing a source of capital to SMEs in emerging markets.

The startup has been bootstrapped since its inception, but is now in the process of a seed round of equity financing worth USD 750,000.

The company takes a three-four per cent management fee on the principle of the loans issues via the platform, and hopes to reach between USD 1 million and USD 2 million in loans issued by the end of 2015.

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MM

Melisande Mual

16 Feb 2015 / 5 Min Read

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