Lenddo provides banks, card issuers, telcos, P2P lenders and fintech startups with a credit scoring and online verification platform that delivers results instantly via APIs or a dashboard. The platform leverages non-traditional data to assess credit risk and enable web and mobile deployments. The company opened its technology to third parties in January 2015 and now has live deployments in more than 10 countries. Lenddo was founded in 2011 and is led by CEO Richard Eldridge. The company says it will use the new funding to accelerate growth. No revenue or user metrics were disclosed in the article. Lenddo operates an online platform that uses users' social connections to generate credit ratings and connect members to local financial services. The company is based in Makati City, Philippines, and reports 350,000 members. It currently provides loans in Columbia, Mexico, and the Philippines. Lenddo raised $6 million to fund global expansion and accelerate an aggressive rollout. The company plans to target Latin America and Southeast Asia with the new funding. Its stated mission is to economically empower the middle class in developing countries. Lenddo uses online activity and social-network data (Facebook, LinkedIn, Twitter) to assess creditworthiness and provide loans to consumers in emerging markets who lack traditional credit histories. The company operates in the Philippines and Colombia and counts members in 35 countries, using social signals to judge reliability. It issues 3-, 6-, and 12-month loans, with average repayment time around 9.5 months and typical loan amounts of roughly $400 in the Philippines and $800 in Colombia. Lenddo reports repayment rates roughly in line with traditional microfinance systems, typically above 95 percent. The startup aims to offer loans at the lowest available interest rates for its customers. With new funding, Lenddo plans to hire more engineers and expand into additional markets, letting its community help decide new office locations.

Total raised

$14M

Funding rounds

3

Latest round

Equity

Latest activity

Oct 2013