LendLedger CEO Interviewed by Bitcoin Magazine NL
During Blockchain Expo Amsterdam, LendLedger CEO Gautam Ivatury was interviewed by Bitcoin Magazine NL. When asked about the mission of the LendLedger platform and its evolution he stated “small businesses need loans to grow. We bring a lot more capital to these borrowers” He went on to reference his Indian lending business Happy Loans, which is currently generating loans at a run rate of $30 million annually. Happy Loans extracts data from Borrowers point of sales devices and mobile wallets to determine loan viability. Previously small businesses couldn’t have loans because “we have no way of knowing who they are”, now however, “we can see data on businesses and lend to them”.
Moving from Happy Loans to LendLedger was the move from a data driven lending business to an open network where Lenders, Borrowers and Data Providers interact. It’s an open network where any data provider can deploy their data, where any Lender can view it, and where any Borrower can receive a loan on the basis of it. Gautam states that this model can be employed all over the world — hence the move onto blockchain. The LendLedger team will have their entire Indian lending business on boarded onto the platform by the start of 2018. Then intending to expand into two other emerging market by the third quarter of 2019.
Why Stellar?
When asked “Why Stellar?” Gautam referenced the importance of “cheap, fast ledger technology” to the project. Facilitating low cost loans. For those interested in exploring this in further detail please see our blog post on why Stellar is the right fit for LendLedger.
