Flender is authorized and regulated by the Financial Conduct Authority under Registration Number 657861. The online lender is currently looking to enable businesses and consumers the ability to borrow money through their existing networks of friends, family, and customers. The platform noted:
“Flender intends to offer established small businesses an innovative new way to access finance by leveraging their loyal customer base. In the consumer space, Flender will facilitate and formalise an existing and large market of social lending across the UK and Ireland. We aim to do this via a unique combination of bringing trust through social networks, giving all users the ability to set their own interest rates, and all via a seamless mobile user experience.”
After the campaign reached its funding target, the Flender team revealed on Twitter:
— Flender (@goFlender) January 12, 2017
Funds from Flender’s Seedrs campaign will go towards key hires, including a direct sales team and in-house software developers; marketing, including online targeting and above-the-line advertising; product development, specifically native iOS and Android versions plus roadmap features for all channels. The initiative is set to close next week.
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