Ledge is a mobile peer-to-peer lending platform that lets users create campaigns to borrow money from friends and family. Borrowers specify an interest rate and payback period, then share campaigns so lenders can pledge amounts; campaigns close when fully funded. After a one-time approval Ledge uses Venmo to transfer funds from lenders to borrowers and, once repayment begins, automatically calculates payments and moves monthly transfers from the borrower’s Venmo account to lenders. Because Ledge is powered by Venmo and does not handle funds directly, the company says it can sidestep many traditional lending regulations. Ledge launched with $900K in seed funding and is available on the iOS App Store and Google Play Store. Cofounder Adam Neff said the automation removes the awkwardness typically associated with lending among friends and family.

Total raised

$1M

Funding rounds

1

Latest round

Seed

Latest activity

Sep 2015