CANADIAN fintech firm Katipult has partnered with payments company Mangopay to bring a new peer-to-peer lending software solution to the UK.
The software allows P2P platforms to hold funds and receive earnings in an online wallet, as well as facilitating marketing, distribution and investor tax reporting.
The major platforms tend to keep their software development in-house, but the technology could be useful for new players trying to enter the market.
Katipult designs software for crowdfunding platforms, while Mangopay is a multi-currency payment solution that holds an e-money issuer licence which is passported to all 31 EEA countries.
“Katipult is excited to offer bespoke P2P lending software with Mangopay as a payment solution to complement our investment crowdfunding solution,” said Brock Murray, chief executive of Katipult.
“The level of sophistication and security required to properly service the debt markets is unique and we’re bringing a product to the UK market that benefits everyone from lenders to borrowers as well as regulators, by creating a high standard for industry confidence.”
Céline Lazorthes, chief executive of Mangopay, added: “P2P platforms require a high level of technical specification and functionality.
“The partnership between Katipult and Mangopay perfectly answers this need. Katipult offers a powerful software combined to Mangopay’s seamless payment solution.”