SOCIAL LENDER WINS IE VENTURE DAY LAGOS
Social Lender is pleased to announce her victory as we emerged first in the just concluded IE VENTURE DAY LAGOS! The competition was designed to identify and support start-ups that have the ability to create innovative digital based solutions to everyday problems faced by businesses—whether private or public—so as to improve their operations.
About Social Lender
Social Lender is a lending solution based on social reputation on mobile, online and social community platforms. Small cash requests are offered to members of Social Lender communities with a valid bank account. Cash requests are guaranteed based on the user’s Social profile and reputation.
Social Lender uses its own proprietary algorithm to perform a social audit of the users’ online, on mobile, on social media and other related platforms and give a Social Reputation Score to each user. Users can borrow from banks and other financial institutions based on their Social Reputation Score. Social Reputation Score can be improved by providing more information e.g. social reputation score is improved by the introduction of Social Guarantor who provides electronic personal guarantee on the personality of the borrower or the transaction.
Social Lender delivers cash guaranteed by social reputation in most cases within 10 minutes. In three steps, users are able to get quick cash from Social Lender. First, users access Social Lender’s platform using any of the following channels; Web, SMS, USSD, Mobile App (Partner App Add-On or Dedicated Apps), Partner Bank ATMs, APIs or Pay with Social Lender (E-commerce Checkout). Immediately a social audit is conducted on the user (with user’s permission) and the user obtains a social reputation score based on their digital fingerprint. Second, the user applies for cash using any of the available channels. Third, funds are approved based on partner specific business rules and funds is disbursed to the users’ verified Account (Bank Account or Mobile Money Account) usually within 10 minutes.
About Tech Venture Day Lagos
IE Venture Days are international events designed to foster the entrepreneurial ecosystem, connecting the best startups, investors, corporations, accelerators and thought-leaders. Every Venture Day lasts between 4-8 hours, and its format is a combination of keynote speakers, panel discussions and a startup competition with the most-promising entrepreneurs of the region. The conferences are open to the general public, and IE students and alumni as well as individuals from the local and regional entrepreneurial communities are invited to participate.
Venture Days take place in cities around the world, connecting the entrepreneurial community across all continents. In the past three years, they have held more than 35 International Venture Days in cities such as Shanghai, Tokyo, Miami, Bogota, London, Santiago de Chile, Paris and many more!
Moreover, every year Madrid hosts two Venture Days with more than 500 attendants, which celebrates the winners of our Venture Lab Accelerator program.
