Without a doubt one of the most popular categories in Fintech falls around the concept of lending money. This could be in the form of a credit, of a personal loan, a peer-to-peer loan or even pawning a car. Dozens and dozens of new start-ups are created on the basis of lending money to consumers or medium and small companies. This is the topic of today’s post: which categories and subcategories do Fintech and money lending have. Read on for our analysis.
One of the categories is Loans for Small Businesses:
Iwoca, a London Fintech, provides loans of up to 100K GBP to UK-based small businesses. They also operate in Spain, Poland and Germany with local offers to local companies. Read about them under: https://www.iwoca.co.uk
Bizfi, a New York Fintech, provides diverse types of (what they call) loans, financing, and funding, from a couple of thousand dollars for a personal loan to a 1 million USD for financing equipment. More information at: https://www.bizfi.com
Fundation is a Fintech that provides loans of up to 500K USD to small businesses. In their website it is explained how they calculate the interest rates that will apply to the loan given to customers. Read about it under: http://www.fundation.com
Another category is Listing of Credits and Loans services (personal and for SME’s):
Finanzcheck.de, a German Fintech based in Hamburg, lists credits and loans from diverse providers directly to consumers. The offers are divided according to the final use to be given to the loan: auto, housing, personal debt, etc. They seem to cover only the German market. More about them under: https://www.finanzcheck.de
CompareAsiaGroup is a group of comparison websites across South East Asia. They list mostly personal loans’ services and “credit card” providers. According to their website they cover Hong Kong, Singapore, Taiwan, Indonesia, Thailand, Vietnam, Malaysia and the Philippines. More information: http://www.compareasiagroup.com
BankBazaar is a Fintech from India, based in Chennai. They provide a platform which matches loans (auto, personal, house, insure, etc) from diverse banks across the country, to your profile based on where you live, work experience, house ownership, among other factors. Further information: https://www.bankbazaar.com
Related to Loans and Credit, but as a provider of services, is the category of Credit Scoring:
WeCash is a Chinese Fintech based in Beijing, which provides credit scoring services. They claim to be able to assess someone’s score in 3 minutes.
More information in their website, available only in Mandarin: https://www.wecash.net
CreditKarma is a San Francisco-based Fintech. The company provides a platform where consumers have access to their credit score ratings and connects them to products tailored to such ratings. Products can be personal loans, credit cards, car savings, among others. Further information: https://www.creditkarma.com
Aire is a British Fintech based in London. According to their website, they provide “…an alternate credit score, to people who are incorrectly classified because they have no credit history…”. More about them under: http://aire.io
Another category of credit and loans and Fintech companies, which seems unique to the United States, is loans and credit for students:
Credible is a San Francisco Fintech marketplace which connects students looking for a loan and diverse providers targeting this segment. Personal loans and refinancing of student loans are also available. More information under: https://www.credible.com
Lenny is a SantaMonica-based Fintech. They provide students loans of up-to 10K based on their grades. According to their website, undergraduate and graduate students can apply for loans. Read more about them at: https://getlenny.com
Sofi is a San Francisco Fintech which focuses not only on services for students, but also provides “Parent Loans”, “MBA Loans”, and also seems to be a peer-to-peer platform. Further info on Sofi under: https://www.sofi.com
The second part about our description of “Fintech and Loans, Credit, Pawning and Lending” will be published in brief. Get in contact with us if you want your company or association mentioned at FintechValley.