The startup provides credit lending solutions that enable young individuals and older adults to leverage gold and jewelry as collateral for quick, short-term loans. By utilizing a streamlined appraisal process, the company offers immediate access to funds, addressing the need for accessible credit in underserved demographics.
Funding
$356.9M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Many individuals and businesses, particularly those with limited access to traditional banking services, face challenges in obtaining quick, short-term loans. Existing loan processes can be lengthy, complex, and require extensive credit checks, creating barriers for those needing immediate funds.
Solution
Affide provides a credit lending solution that allows customers to leverage gold, jewelry, and other valuable items as collateral for immediate, short-term loans. Through a streamlined appraisal process conducted at their physical branches, Affide offers immediate access to funds based on the value of the pledged assets. Customers can manage their loans and stay updated on new offerings through the Affide mobile application. Affide also conducts public auctions, providing opportunities to acquire valuable items at competitive prices.
Target Audience
Affide primarily serves individuals and businesses seeking immediate access to short-term loans, particularly those who may not qualify for traditional bank loans or prefer a collateral-based lending approach.
Features
- In-branch appraisal process for determining the value of pledged assets
- Short-term loans secured by gold, jewelry, and other valuables
- Mobile application for loan management and updates
- Public auctions for selling or acquiring valuable items
- Precious items storage in high-security vaults with 24/7 surveillance
- Online tool for preliminary valuation of precious items
- Blog featuring articles about luxury watches, gemstones, and jewelry