Service for lending to young people with bad credit history has attracted more than $ 2 million with the participation of Viktor Vekselberg
American service Pave has received investments from the funds of Maxfield Capital , RPMVentures and Seer Capital . The round of the “A” series was headed by Maxfield Capital, co-owned by businessman Viktor Vekselberg. The amount of the transaction is not disclosed, but usually the average check of Maxfield Capital in the initial rounds is $ 2 million. This is the third fund transaction in the field of financial technology.
The service helps young professionals get a loan of up to $ 25 thousand at a rate of 6% for a period of two or three years. The funds are provided by members of a special community created within the project. The company's founders are Oren Bass and Sal Lahoud, the company's headquarters is in New York. The team employs people from Apple, American Express, Facebook, Goldman Sachs, Microsoft and Visa.
Peer peer service issues loans to people aged 20 to 35 years. Their number in the US is more than 25% of the population and reaches 80 million people. From the point of view of the FICO rating that is widespread in the United States, their credit history is mostly very modest. In addition, they cannot rely on favorable credit terms due to the prevalence of quantitative criteria in the rating, such as the amount of previous credit accounts and so on. To assess the solvency of this category of citizens, Pave changed the FICO formula, raising the importance of criteria such as education, work experience and hiring potential in the future.
')
“During the financial crisis of 2008, we saw a huge number of people of our generation who could not get access to capital in order to accelerate personal and professional development, despite strong potential and career prospects. And we saw huge opportunities in providing funding for such ambitious young people, ” explained the goal of launching the service co-founder and CEO Pave Oren Bass to Businesswire.com.
According to Pave, about 60% of young borrowers use loans to continue professional or personal development, about 40% - to consolidate credit card debt or refinance debts.
The world's largest p2p lending operator is LendingClub . Its co-owner is the DST Foundation Yuri Milner . At the end of 2014, LendingClub entered the IPO. The company's valuation reached $ 5.4 billion. According to investors, in the future it can replace traditional banking.
In Russia, the market for mutual lending to individuals is growing, but more slowly than in the world. According to J'son & Partners Consulting, from 2010 to 2013 the volume of the Russian p2p lending market has almost doubled - from 200 million rubles to 380 million rubles. In our country, there are several services like LendingClub: “Dold.ru,” Loanberry , Fingooroo . Maxfield Capital is also the investor of the latter.
“The mutual lending market is a new direction, which is in the stage of active development. It is not surprising that the legislation has not yet been adapted to such a business model in Russia. Seeing this problem, our portfolio project Fingooroo, the first of the p2p companies, received a license from the MFI - a microfinance organization, ”Alexey Tuknov, Maxfield Capital investment director told RBC.
The service helps young professionals get a loan of up to $ 25 thousand at a rate of 6% for a period of two or three years. The funds are provided by members of a special community created within the project. The company's founders are Oren Bass and Sal Lahoud, the company's headquarters is in New York. The team employs people from Apple, American Express, Facebook, Goldman Sachs, Microsoft and Visa.
Peer peer service issues loans to people aged 20 to 35 years. Their number in the US is more than 25% of the population and reaches 80 million people. From the point of view of the FICO rating that is widespread in the United States, their credit history is mostly very modest. In addition, they cannot rely on favorable credit terms due to the prevalence of quantitative criteria in the rating, such as the amount of previous credit accounts and so on. To assess the solvency of this category of citizens, Pave changed the FICO formula, raising the importance of criteria such as education, work experience and hiring potential in the future.
')
“During the financial crisis of 2008, we saw a huge number of people of our generation who could not get access to capital in order to accelerate personal and professional development, despite strong potential and career prospects. And we saw huge opportunities in providing funding for such ambitious young people, ” explained the goal of launching the service co-founder and CEO Pave Oren Bass to Businesswire.com.
According to Pave, about 60% of young borrowers use loans to continue professional or personal development, about 40% - to consolidate credit card debt or refinance debts.
The world's largest p2p lending operator is LendingClub . Its co-owner is the DST Foundation Yuri Milner . At the end of 2014, LendingClub entered the IPO. The company's valuation reached $ 5.4 billion. According to investors, in the future it can replace traditional banking.
In Russia, the market for mutual lending to individuals is growing, but more slowly than in the world. According to J'son & Partners Consulting, from 2010 to 2013 the volume of the Russian p2p lending market has almost doubled - from 200 million rubles to 380 million rubles. In our country, there are several services like LendingClub: “Dold.ru,” Loanberry , Fingooroo . Maxfield Capital is also the investor of the latter.
“The mutual lending market is a new direction, which is in the stage of active development. It is not surprising that the legislation has not yet been adapted to such a business model in Russia. Seeing this problem, our portfolio project Fingooroo, the first of the p2p companies, received a license from the MFI - a microfinance organization, ”Alexey Tuknov, Maxfield Capital investment director told RBC.
Source: https://habr.com/ru/post/294534/
All Articles