Online lending platform, iBAN, recently launched an equity crowdfunding campaign on Seedrs with a mission to raise £100,000 to create its new crowdlending app, iBAN Wallet.
iBAN, which was founded last year, stated its team focuses on lending well while making credit decisions based on significant due diligence for each and every loan. All of the platform’s loans are notably protected by a contract allowing us to resell secured property in the event of a non-payment, and it never automates the final decision on whether to lend or not.
“We are a crowdlending financial innovative entity, that aims to deliver a better deal to savers and borrowers who care about their money.”
The lender stated that the app would connect lenders and borrowers directly, helping them to control their finances and transfer money while on the go. Through the app, iBAN users will have a modern money management tool, integrated with gamification, and risk management. The platform then shared on its campaign website:
“iBAN Wallet will be an app that helps you control your finances, allows you to transfer money to your friends, and creates an interaction between borrower and lender, taking money management, investment and borrowing to a completely new level. Through the app, users will have a modern money management tool, integrated with gamification and risk management.”
iBAN also noted that the app would feature a live updating investor’s marketplace where lenders can train their keen eye through loan requests in the search for a smart investment.
“The borrower will be able to specify certain variables of their contract, attracting investors with better terms than the competition.”
Since its launch, the iBAN Seedrs campaign has so far raised more than £30,000 from nearly 20 investors.
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