LenderMarket adds Peruvian loan originator
Peer-to-peer lending marketplace Lendermarket has added Peruvian fintech CrediFace as its newest loan originator.
This means that the platform’s users can now invest in Latin American P2P loans for the first time.
CrediFace is a Peru-based consumer lender which has been operating for more than six years. It also owns the ValeCash brand in Peru, and CrediOne in Mexico.
It finances consumer loans of between $3,000 (£2,459) and $5,000, with an average term time of up to two years. The lender focuses on ‘underbanked’ customers, who have banking products but are poorly served.
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The platform prioritises gradual growth and has maintained a delinquency ratio of approximately 10 per cent, which Lendermarket says is “well below other fintechs.”
“CrediFace was born with the slogan of having gradual growth prioritizing the quality of the portfolio,” explained Lendermarket.
“Its evaluation process contains algorithms that detect indebtedness, payment behaviour and other indicators that make it possible to have a robust portfolio against any external agent.”
CrediFace is the fourth loan originator to be onboarded to Lendermarket. In November 2022, the Dublin-based lending platform added Nigerian fintech QuickCheck, marking the first time that its users could invest in loans originated in Africa.
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