Peer2Peer Finance News
The UK's first peer-to-peer finance magazine for investors and the industry
  • Home
  • News
    • Personal Finance News
    • Industry News
    • SME News
    • Global News
  • Property
  • IFISA
    • IFISA Guide
  • Video
  • Open Banking
  • Cryptocurrency
  • Features
    • Joint Ventures and Promoted Content
  • Comment & Analysis
  • What is P2P?
  • Partners
  • Events
    • Past Events
  • P2P Power 50
    • Power 50 2020
    • Power 50 2019
    • Power 50 2018
    • Power 50 2017
  • Sign up to our e-newsletters
  • Magazine
  • Directory
  • Jobs
  • My Account
    • Manage Account
    • Change Password
    • Log In
    • Log Out
shutterstock_462705907
December 4 2017

Welendus launches beta platform for investors

Kathryn Gaw Industry News, News P2P payday loan, Seedrs, Welendus, Welendus beta

WELENDUS, the peer-to-peer payday lender, has launched a beta version of its platform for investors after its latest funding round exceeded its target in under 24 hours.

The fully-authorised platform, which aims to re-define the short-term lending market with cheaper rates and no hidden costs, is now inviting investors to create an account.

“In order to control the lending activities during the beta stage, we have created an invite only token based system,” it said in an email to investors on Saturday. “After creating an account, we will email you your unique access token to start adding investments from early next week.”

However, it is not accepting any loan applications yet as it has not raised enough capital.

“We will start accepting borrowers as soon as we raise sufficient lending capital to operate the lending activities efficiency,” it said.

As Peer2Peer Finance News previously reported, Welendus launched a new equity crowdfunding round on Seedrs at the end of last month to raise an additional £150,000, which has now raised £188,141.

It previously raised £100,000 via Seedrs in March this year.

Nadeem Siam, founder and chief executive of Welendus, said that the latest money raised would be used for marketing and increasing the team.

In June, Welendus trademarked the terms ‘AutoMatch’ and ‘AutoDiversify’ for use on its platform.

AutoMatch will be used to describe the process of automatically deploying investors’ funds, while the AutoDiversify feature will be used to spread investors’ money across a variety of loans.

instechAi LandlordInvest publishes loan book

Related Posts

Dog at school

Industry News, News, Top 3

Five key takeaways from the fintech review

Closed sign

Industry News, News, Property, Top 3

The House Crowd goes into administration

investing

Industry News, News, Top 3

Government urged to modify EIS to promote lending

Popular posts:

  • The House Crowd goes into administration
  • RateSetter to stop investment withdrawals from 26 March
  • UK Finance calls for global fintech cooperation
  • Metro Bank plans to offer RateSetter lending through…
  • RateSetter confident of growing Metro Bank’s…
  • FCA puts the brakes on Buy2Let Cars
Back To Top
  • Home
  • Contact
  • About
  • Team
  • Advertising
  • Subscribe
  • Privacy
  • T&Cs
  • Disclaimer

Follow Us on Social Media

© Peer2Peer Finance News 2020
• Additional design by