The startup has developed a bank deposit system that enables customers to access credit through a participatory guarantee provided by friends or relatives. This approach allows individuals to secure credit based on the trust and financial backing of their social network, addressing the challenge of limited credit access for those without traditional collateral.
Funding
$4.5M 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 lack access to traditional credit due to insufficient collateral or limited credit history, hindering their ability to finance personal projects or address immediate financial needs. This lack of access can be particularly challenging for young adults, those with irregular income, or individuals new to the credit system.
Solution
Yelloan provides an online platform that facilitates access to consumer credit through a streamlined application process and partnerships with established lending institutions. Applicants can quickly submit their information and receive an initial decision, with loan amounts ranging from €1,500 to €35,000 and repayment terms from 12 to 60 months. Yelloan acts as an intermediary, connecting borrowers with suitable lenders and simplifying the process of obtaining financing for various personal projects, excluding real estate. The platform emphasizes speed and efficiency, aiming to provide funding within 48 hours of application approval.
Target Audience
Yelloan primarily targets individuals in France seeking consumer credit for personal projects who value a fast, online application process and access to a range of loan options.
Features
- Online application process with immediate preliminary response
- Access to personal loans ranging from €1,500 to €35,000
- Flexible repayment terms from 12 to 60 months
- Partnerships with major banks in France
- Funding available for a variety of personal projects, such as vehicle purchase, travel, or home improvement
- Dedicated advisor to review and process applications