It is finally happening, Social Lender will be launching in the coming month in South Africa.
In a statement made available to PageOne, the announcement was delivered by Faith Adesemowo, CEO of Social Lender during the Barclays Techstars Demo Day presentation in Cape Town.
In her presentation, Faith said “With over 10,000 users on our platform, Social Lender has been solving real problems for real people. We provide a way of accessing formal credit to users using their social reputation score. You can find several user testimonials on our blog and Facebook page. It is really touching the impact we have had on our users in the past months”.
Social Lender is a lending platform, licensed to financial institutions, that determines credit worthiness based on social reputation on online, mobile and social media platforms. The company was announced in April as the only Nigerian start up of 10 companies to participate in the inaugural African cohort of the Barclays Accelerator programme powered by Techstars. The company has since undergone a 13-week programme involving intensive networking, mentoring and development. Social Lender was incubated by Bincom ICT Solutions.
Faith also said “Social Lender is currently licensed to Sterling Bank. We will be announcing an additional partner bank in Nigeria shortly. As we strive to grow quickly, We are very excited at the prospect of showing that our solution can work in well regulated market like South Africa”.
In the coming week, Faith will be presenting at the Barclays Rise in London and will also be participating on a panel at the London Fintech Week.
To see her full presentation, click the link below.