Could Flender Be A New Model For P2P Lending?
The peer-to-peer lending industry has a well-earned reputation as the financial world’s most innovative sector, offering both investors and borrowers a real alternative to high street banks. The P2P market has been growing significantly over the last few years and we’ve seen a spurt of new startups emerge, but we think one new platform looks set to revolutionise the peer-to-peer lending industry.
The Flender Story
Flender is a brand-new lending platform that’s fully licensed by the FCA to trade in the UK. The Irish-based platform is completely new to the market but has already seen significant investment from lenders; Flender actually raised half a million pounds of capital to start trading at the beginning of 2017, demonstrating its appeal to the market. There are few lending platforms which can boast such immediate commitment from potential customers, which shows just how much faith investors have in peer-to-peer finance platforms.
What Makes Flender Different?
Flender’s attitude towards lending seeks to change the fundamental nature of peer-to-peer finance. Until now, P2P platforms have concentrated solely on providing an investment and borrowing service for their customers; nothing more, and nothing less. Flender’s approach is to generate a more interlinked lending platform, where lenders and borrowers are interconnected at all times. The Flender platform allows both sides of the arrangement a lot more freedom and personal choice than competing platforms do, and provides a more holistic experience.
Investments on the Flender platform are made according to the needs of each party. A prospective borrower will, once they’ve passed Flender’s stringent affordability checks, list their investment opportunity, desired loan amount and preferred interest rate on the platform. Investors can then pick and choose where to invest, how much to invest and what rates to offer. This offers borrowers the opportunity to pick and choose the best deals for them – if their business is especially appealing they might well be offered much cheaper loans by investors keen to get in on the opportunity.
What Will Flender Add to P2P Lending?
Flender are committed to making peer-to-peer lending a more natural, personal experience. To do so, Flender has introduced an app that allows both borrowers and investors to connect and communicate, building up a lending community that’s reliable and resilient. Flender is still in its infancy, as a brand-new platform, but one that’s worth paying attention to – it could very well be the next big thing in P2P finance.
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