Revolutionizing Real-Time Credit Data: LenderLink Secures $1.25M Funding in Philippine FinTech
LenderLink, a pioneering FinTech company in the Philippines, has made headlines by successfully closing its first external funding round. With a total of $1.25 million raised in an oversubscribed pre-seed round, LenderLink is set to transform the Philippine credit data infrastructure.
Funding Details
The funding was secured from notable investors including Kaya Founders, Iterative, Founders Launchpad, and local business angels such as Manila Business Angels.
LenderLink’s Mission
LenderLink aims to revolutionize the consumer lending market in the Philippines by developing the country’s first high-tech, real-time credit bureau. The primary goals of this initiative include:
- Providing lenders with instant access to credit risk data
- Reducing borrowing costs by addressing high default rates
- Enhancing financial inclusion for underserved communities
Technology and Innovation
Utilizing an API-first platform, LenderLink is focused on improving the lending experience for both lenders and consumers. The newly acquired funds will facilitate:
- Enhancements to LenderLink’s technology
- Expansion of market presence
- Establishment of partnerships with key financial institutions
With over 25 million records integrated across five ecosystems, LenderLink is creating a unique network that allows early adopters to access better lending terms and high-quality, real-time credit data.
Vision and Leadership
CEO Christo Georgiev emphasized the importance of real-time credit data infrastructure, stating, “One of the biggest barriers to affordable lending in emerging markets is the lack of real-time credit data.” He highlighted that this funding is crucial in addressing foundational problems in the lending sector.
Ray Alimurung, General Partner at Kaya Founders, praised LenderLink’s founding team for their expertise in fintech, credit assessment, and data science. He noted that their vision is key to enabling lenders to make optimal lending decisions using real-time credit intelligence.
Conclusion
LenderLink is well-positioned to reshape the lending landscape in the Philippines, offering innovative solutions for better credit risk assessments and fairer access to credit for consumers. For more insights on the evolving FinTech landscape, visit FinTech News Philippines.
