The approach
While most p2p lending services emphasize that the identity of borrowers is not revealed (in public), Finmar wants the borrower to activly use it and build on the reputation the business / or the business owner has. The idea is that established businesses could broadcast their loan purpose and convince suppliers, business partners and customers to become loan creditors. To do this Finmar asks loan applicants to post a video to illustrate the loan request and to reach out to their community. If this approach is successful local and regional loans will frequently occur on Finmar, a thing that is not common on other p2p lending services where location of lender and borrower usually play no or minor roles.
The company
I have been following the progress of the founder Clas Beese since the idea phase 2 years ago. The founders opted for bootstrapping rather then raising capital. Before the launch there was a closed beta in the past weeks. I am curious to watch how Finmar does as it is the first p2p lending service in Germany focussing on p2c lending.
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