P2P Lender Welendus Returns to Seedrs to Raise £850,000

Short-term peer-to-peer lending platform Welendus has returned to equity crowdfunding platform Seedrs to raise £850,000 in funding. The lender’s latest initiative comes less than one year after it secured £208,898 through the funding portal.  

As previously reported, Welendus was founded in 2015 and aims to re-define the short-term lending market by introducing a peer-to-peer short-term lending platform and to help customers in short-term financial needs borrow directly from others at a much cheaper rate without any hidden costs or charges.

“We believe that short-term borrowers in the UK are underserved and do not get a good and fair service from lenders, whether it’s a payday loan, a short-term loan or an unarranged banking overdraft. Compellingly short term borrowing is at an all time high. This, alongside the bad practice in the sector and widespread customer mistreatment, has led to a huge need for change.”

Welendus is fully authorized by the FCA and claims it is helping financial inclusion while funnelling the short-term lending returns back to the society. Features for borrowers include:

  • Lower cost short-term loan APR starting from 205%, in comparison with up to 1,294% from current payday lenders
  • No hidden costs or charges and no penalty fees
  • Transparent, effective and friendly service
  • No banking fees
  • No early repayment fees

Welendus also reported that for investors its enables them to invest in short-term loans, offering higher returns with the short-term investment flexibility and the benefit of a Provision Fund.

“Using Welendus, investors are able to choose their own return from 5% to 15% p.a. Investors can take advantage of the AutoMatch feature which automatically matches corresponding borrowers based on the investors’ risk preference. This is in addition to the fully automated Autodiversify feature, which can efficiently manage investors’ investment portfolio. Plus, Welendus operates a Provision Fund which aims to reimburse the investor if the borrower defaults.”

Funds from the latest Seedrs round will be used for the following:

  • Talent: Adding new operational team members.
  • Marketing: online targeted marketing together with referrals and virality.
  • Technology: Continued development to add new functionalities to stay ahead of the game.
  • Services and IP: More IP applications as well as other services.

The campaign is currently set to close later this fall.

Have a crowdfunding offering you'd like to share? Submit an offering for consideration using our Submit a Tip form and we may share it on our site!

Sponsored Links by DQ Promote



Send this to a friend