Flender the lender seeks splendour with UK launch
Peer-to-peer lending start-up Flender is seeking to get €1 million in funding and is targeting a UK launch after getting full authorisation from the Financial Conduct Authority.
As Banking Technology reported last year, Flender launched its crowdfunding campaign on 21 November 2016, to raise £500,000 in exchange for 10% equity in the firm. The firm enables consumers to borrow money via social network contacts. Flender is the registered trademark of NKK Finance – a firm founded in 2013 and based in Clacton-on-Sea, UK.
The company recently went live with a soft launch in Ireland and now plans to roll out its platform in the UK this summer.
According to its website, Flender does not charge any fees to users. Business borrowers pay a success fee based on completing a campaign successfully on its platform.
Lenders can bid on which campaigns they would like to back, while borrowers can raise funds “whilst sharing their story to people with whom they already have a connection”.
Flender was founded in October 2014 by Kristjan Koik, CEO and MD; Jeremy Davies Betancourt, board member and finance director; and Oli Cavanagh, sales and marketing director.