MyC4.com switched today from closed beta to public beta. Now it is possible to browse the site without registering. For example click on one of the opportunities on the left of the screen and you get a good idea of the concept.
MyC4 allows lenders to do microlending to entrepreneurs in Africa. Lenders do get paid interest. Check the previous P2P-Banking coverage of MyC4.
MyC4 introduced "automatic bidding", an automatic bidding assistant that will bid on any new loan listings that match parameters set by the lender. Similar to the Standing Orders feature of Prosper.com, but not with as many selection criteria.
Mads Kjaer, CEO of MyC4, said:
The Auto Bid request came from several of the businesses we have talked with and also several Builders who asked for a quick way of get going.
You could say that this feature is also the preparation for e.g. philantrophy funds or bi-lateral organisations who want to use My4 to reach micro entrepeneurs in Africa at NO COST = 100.000 credits is 100.000 credits invested …
MyC4 now also enables the use of Paypal to transfer money into the MyC4 account.
