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May 15, 2012 09:40 pm GMT
Online reputation and lending startup Lenddo has raised an $8 million Series A Round from institutional investors Accel Partners, Blumberg Capital, Omidyar Network, iNovia Capital, and Metamorphic Ventures, as well as angel investors such as Geoff Judge, David Kidder, Scott Heiferman, and Barry Silbert. The startup plans to take that funding and help make loans available to customers who normally wouldn't have access to them.Lenddo's mission is to help consumers in emerging markets to develop creditworthiness and gain access to financial services, using online activity as a way to judge their reliability in paying back loans. The startup is already active in markets like the Philippines and Colombia, where it uses activity on social networks like Facebook, LinkedIn, and Twitter to judge their online reputations and provide capital that otherwise wouldn't be available to them.
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/KBiBGmZJWRM/
Lenddo Raises $8M To Use Online Reputation For Lending In Emerging Markets
Online reputation and lending startup Lenddo has raised an $8 million Series A Round from institutional investors Accel Partners, Blumberg Capital, Omidyar Network, iNovia Capital, and Metamorphic Ventures, as well as angel investors such as Geoff Judge, David Kidder, Scott Heiferman, and Barry Silbert. The startup plans to take that funding and help make loans available to customers who normally wouldn't have access to them.Lenddo's mission is to help consumers in emerging markets to develop creditworthiness and gain access to financial services, using online activity as a way to judge their reliability in paying back loans. The startup is already active in markets like the Philippines and Colombia, where it uses activity on social networks like Facebook, LinkedIn, and Twitter to judge their online reputations and provide capital that otherwise wouldn't be available to them.Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/KBiBGmZJWRM/
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