Facilitates peer-to-peer lending by connecting borrowers and lenders directly on a digital platform, offering loans from £100 to £1,500 with flexible repayment terms of 4 to 6 months. The platform provides an instant loan decision, same-day fund transfers, and no hidden fees, making it accessible for individuals with varying credit histories while offering lenders a high-risk investment opportunity.
Funding
$2.3M 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
Individuals with varying credit histories often face limited access to short-term financing options from traditional lenders. These individuals may require smaller loans to cover unexpected expenses or bridge financial gaps, but are often subject to high interest rates and inflexible repayment terms.
Solution
Fund Ourselves offers a peer-to-peer lending platform that directly connects borrowers and lenders, providing access to short-term loans ranging from £100 to £1,500. The platform utilizes an innovative lending model that considers multiple factors beyond traditional credit scores, increasing accessibility for individuals with diverse financial backgrounds. Borrowers benefit from flexible repayment schedules of 4 to 6 months, instant loan decisions, and same-day fund transfers, with no hidden fees or early repayment penalties. Lenders can invest from £1,000 and have their investments auto-matched to borrowers.
Target Audience
The primary target audience includes individuals with varying credit histories seeking short-term loans, as well as investors looking for short to medium term investment opportunities.
Features
- Online application process that takes less than 15 minutes
- Instant loan decisions based on a variety of factors beyond traditional credit scores
- Funds transferred to the borrower's bank account within 1 hour of approval
- Flexible repayment schedules with options to schedule repayment dates
- No late fees and willingness to work with customers to minimize default
- Option for early repayment with potential savings on interest charges
- Investments auto-matched to borrowers