Social Lender will be launching in the coming month in South Africa. This announcement was delivered by Faith Adesemowo, CEO of Social Lender during the Barclays Techstars Demo Day presentation in Cape Town.
“With over 10,000 users on our platform, Social Lender has been solving real problems for real people. We provide a way of accessing formal credit to users using their social reputation score. You can find several user testimonials on our blog and Facebook page. It is really touching the impact we have had on our users in the past months” Faith added.
Find the full 8 minute presentation at:
Social Lender is a lending platform, licensed to financial institutions, that determines credit worthiness based on social reputation on online, mobile and social media platforms. The company was announced in April as the only Nigerian start up of 10 companies to participate in the inaugural African cohort of the Barclays Accelerator programme powered by Techstars. The company has since undergone a 13-week programme involving intensive networking, mentoring and development. Social Lender was incubated by Bincom ICT Solutions
Faith also said “Social Lender is currently licensed to Sterling Bank. We will be announcing an additional partner bank in Nigeria shortly. As we strive to grow quickly, We are very excited at the prospect of showing that our solution can work in well regulated market like South Africa”.
In the coming week, Faith will be presenting at the Barclays Rise in London and will also be participating on a panel at the London Fintech Week.
Contact
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Mudiaga Ogboru
Product Manager
Social Lender
+234 803 695 3010
mudi@sociallenderng.com, founders@sociallenderng.com
www.sociallenderng.com
Links
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Social Lender Website : http://www.sociallenderng.com
Social Lender Testimonials: http://blog.sociallenderng.com/testimonial-category/sterling-bank-social-lender/
Social Lender Facebook: https://www.facebook.com/sociallender/
Techstars Announces 10 Startups for First Ever African Program: www.forbes.com/sites/tobyshapshak/2016/04/05/techstars-announces-10-startups-for-first-ever-african-program/
Inaugural Barclays Accelerator Programme in Africa concludes: http://disrupt-africa.com/2016/07/inaugural-barclays-accelerator-programme-in-africa-concludes/
Bincom ICT Solutions : http://www.bincom.net
Barclays Accelerator : http://www.barclaysaccelerator.com
Techstars : http://www.techstars.com/
About Social Lender
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Social Lender is a lending solution based on social reputation on mobile, online and social media platforms.
The solution is designed to bridge the gap of immediate fund access for people with limited access to formal credit. Social Lender uses its own proprietary algorithm to perform a social audit of the user on social media, online and other related platforms and gives a Social Reputation Score to each user. Loans are guaranteed by the user’s social profile and network allowing users to then borrow from banks and other financial institutions based on their social reputation.
Social Lender currently has over 10,000 registered users with a less than 4% default rate. Users can withdraw requested cash loans via existing banking channels including bank accounts and mobile money.
Social Lender is patent-pending and licensed to financial institutions in the countries of operation.
