Locations
Nigeria · Lagos, Nigeria · Lagos, Nigeria · FCT, Nigeria · Onikankan, Nigeria · Ido, Nigeria · Oyo, Nigeria · Onikanga, Nigeria · Onikan Environ, Lagos Island, Lagos, Nigeria · Lagos Island, Lagos, Nigeria · Onikan, Lagos, Nigeria · Ife, Nigeria · Ifo, Nigeria · Imo, Nigeria · Jos, Nigeria · Ojo, Nigeria · Ore, Nigeria · Edo, Nigeria · Udi, Nigeria · Oyo, Nigeria · Imo, Nigeria · Iwo, Nigeria · Oye, Nigeria · Ede, Nigeria · Epe, Nigeria
industry
Finance
Size
1 - 10 employees
Stage
Other
founded in
2014
Social Lender is a micro-finance solution based on social reputation on mobile, online, and social community platforms. The solution is designed to bridge the gap of immediate fund access for people with limited access to formal credit. Social Lender uses its own proprietary algorithm to perform a social audit of the user on social media, online, and other related platforms and gives a social reputation score to each user. Micro-credit is guaranteed by the user’s social profile and network, allowing users to then borrow from banks and other financial institutions based on their social reputation. Social Lender currently has over 100,000 registered users with a less than 4% default rate. Users can withdraw requested cash loans via existing banking channels including bank accounts and mobile money. Social Lender is patent-pending and licensed to financial institutions in the countries of operation. Social Lender Inc. is a company created to operate, manage, and license the solution.
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