The world’s first online platform that provides credit through social networks.
Today is the official launch of Lenddo Mexico. Lenddo is the world’s first online platform that allows its members to use social networks to obtain personal loans and help build their credit history in an easy, fast and innovative way.
Lenddo’s goal is to help members and their community access credit by leveraging the data in social networks. Lenddo created a LenddoScore which calculates a member’s trustworthiness, specifically their willingness to pay back a loan. These same principles for lending have been used for centuries using reputation a person had in their community but Lenddo has put this online.
Naveen Agnihotri, PhD in Computational Neuroscience from Columbia University and creator of Lenddo’s algorithm, points out: “With the LenddoScore, Lenddo is scientifically measuring what has previously been done by intuition”.
Lenddo started operations in the Philippines in 2011, expanded to Colombia in 2012 and today it has over 250,000 members globally. After only three weeks operating in Mexico, Lenddo already has 5000 members.
Dan Gertsacov, Lenddo’s CEO for Latin America explains: “after witnessing the positive impact for thousands of Lenddo members in Colombia, it was clear members in Mexico would also benefit from access to credit. Mexico already has the technological infrastructure, high penetration of social networks, and underlying economic growth – what it does not yet have is broad access to online credit – Lenddo seeks to change that for Lenddo members. Our goal is to provide Mexicans with a credit alternative that doesn’t jeopardize their financial health and is backed by a highly qualified team.”
Karen Gilchrist, Mexico’s Country Manager for Lenddo adds, “we knew how great our potential was in Mexico when we decided to come here, but within a few days, we are truly impressed with how quickly Lenddo has caught on. We are moving much faster than we anticipated and have surpassed our expectations, reiterating that coming to Mexico was a great decision.”
“Lenddo is an opportunity for those Mexicans who want to improve their quality of life, pay for school, take care of a family emergency, whatever will help them get ahead in life,” finalized Gertsacov.
Accessing the loans offered by Lenddo is very easy. Members go to www.lenddo.com.mx and follow five simple steps:
Lenddo investors include Accel Partners, Blumberg Capital, Omidyar Network, iNovia Capital, and Metamorphic Ventures; these companies have also invested in successful companies such as Facebook and Groupon. Lenddo also has Latin American investors, including Woods Staton, owner of McDonalds Latin America
Lenddo’s mission is to help create an economically empowered and thriving middle class in developing countries around the world. To accomplish this, Lenddo built the world’s first online platform that empowers members to use their online social connections to build their creditworthiness and access local financial services. Lenddo is currently providing loans to Members in Colombia, Mexico and the Philippines
For more information go to: www.lenddo.com.mx
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