Lendela secures US$5M in oversubscribed Series A round to bring more transparency to Asia-Pacific’s lending industry
Lendela was founded in 2018 with a mission to simplify and streamline the personal loan application process. The platform empowers borrowers with transparent and personalised loan options, offering a refreshing alternative to the traditional labyrinth of the current lending landscape.
Founder and CEO Nima Karimi said, "The personal loan journey is often complex and unnerving for the borrower. Consumers deserve clarity and choice when making critical loan decisions. That has always been Lendela’s goal.”
Lendela's commitment to providing a superior borrowing experience is evident in its extensive track record. In the last year alone, the fintech has brought over USD 3.7m in savings to borrowers thanks to its unique reverse auction model. Their extensive network of lenders also ensures that borrowers have access to a wide array of loan options, regardless of credit and transactional profiles.
Charting a path forward
De Oude emphasised that “Businesses that add real value to customers are businesses that will last. Consumer finance is a necessary part of so many lives, and making lending more democratic is a meaningful endeavour. Lendela is well loved by the customers it services and will grow as a result. I love businesses that really add value to everyday people and make people's lives better.”
Looking ahead, Lendela plans to expand across the Asia-Pacific region, following its launch in Australia earlier this year. Additionally, the funds will be directed toward product development to enhance integration and broaden the scope of consumer services benefiting from greater transparency.
"We are not disruptors - we are enablers. Our platform connects consumers with the best loan providers, streamlining the process for greater efficiency so nobody pays more than necessary for their loan", said Karimi.
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