Want to borrow money without meeting your bank manager? Join the revolution in social lending with peer-to-peer startup Flender
, a site boldly planning to change the way we borrow and lend money.
Instead of turning to banks, Flender integrates social networks helping businesses and consumers to borrow and lend money from trustworthy sources. The whole network exists on trust. It also operates on a unique approach; the entire process is handled on your phone (meaning no paperwork) and everyone sets their own interest rates. It lets users safely lend to people they know. This market already exists and Flender aims to be the first to formalise and automate it.
Whether it is funding a friend’s further study, doing home improvement or growing a business, Flender will let you borrow and lend finance across your social connections. Lenders get the satisfaction of helping out a friend or contact while earning more interest than a standard savings account. Flender is regulated by the FCA and aims to become the most mobile-friendly, hassle-free way to borrow and lend money.
The team is pitching to raise £500k and offering 10% equity through the crowdfunder Seedrs