Updated Mar 29, 2019

Social Lender

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Microcredit Based on Social Reputation

Social Lender uses its own proprietary algorithm to perform a social audit of the users’ online, on mobile, on social media and other related platforms and give a Social Reputation Score to each user. Users can borrow from banks and other financial institutions based on their Social Reputation Score. Social Reputation Score can be improved by providing more information e.g. social reputation sco...
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Social Lender uses its own proprietary algorithm to perform a social audit of the users’ online, on mobile, on social media and other related platforms and give a Social Reputation Score to each user. Users can borrow from banks and other financial institutions based on their Social Reputation Score. Social Reputation Score can be improved by providing more information e.g. social reputation score is improved by the introduction of Social Guarantor who provides electronic personal guarantee on the personality of the borrower or the transaction. Social Lender delivers cash guaranteed by social reputation in most cases within 10 minutes. In three steps, users are able to get quick cash from Social Lender. First, users access Social Lender’s platform using any of the following channels; Web, SMS, USSD, Mobile App (Partner App Add-On or Dedicated Apps), Partner Bank ATMs, APIs or Pay with Social Lender (E-commerce Checkout). Immediately a social audit is conducted on the user (with user's permission) and the user obtains a social reputation score based on their digital fingerprint. Second, the user applies for cash using any of the available channels. Third, funds are approved based on partner specific business rules and funds is disbursed to the users' verified Account (Bank Account or Mobile Money Account) usually within 10 minutes.
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Stage 5: Scaling

Social Lender has licensed to 6 partner financial institution in 2 countries of operation.
Registered in Nigeriain Nigeria

Focus Areas:

Financial Sector & Investment, Social & Micro Finance, Economic Empowerment and 2 MoreSEE ALL

Financial Sector & Investment, Social & Micro Finance, Economic Empowerment, Youth and Digital FinanceSEE LESS

Implemented In:

Nigeria and South Africa

Nigeria and South AfricaSEE LESS

2
Countries Implemented In
25,000
Customers
9
Employees
$20,000
Funds Raised to Date

Problem

Over 50% of adult Africans lack access to formal credit. Sub Saharan Africa faces dual problem when it comes to access to credit. First there is the absolute lack of access to credit for a large percentage of people across Africa because of the lack of traditional collateral and the ineffective traditional credit scoring system. Majority of these people who lack access to credit are young professionals, small business owners, National Youth corps members and students.

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Solution

Social Lender helps financial institutions offer microcredit based on social reputation to individuals who are underbanked or have little or no access to formal credit. Social Lender is a lending solution based on social reputation on mobile, online and social communities. The solution is designed to bridge the gap of immediate fund access for people with limited access to formal credit. Social Lender uses its own proprietary algorithm to perform a social audit of the users

Target Beneficiaries

Our initial target is an addressable market of 100 million people across Africa, which we can target with the right strategic partnerships. The customer segmentation is youth between the age of 18 – 40 who are currently under-banked or lack access to formal credit. Some of these people are young professionals, small business owners, National Youth corps members and also students.

Mission and Vision

Our Vision === To Transform Trust into an Asset for Individual Empowerment and Financial Services. Our Mission === To harness Social Reputation in building a Social Network for Trust, Credit and much more.

Competitive Advantage

The main asset for Social Lender is our social reputation scoring and social guarantor model which can be licensed to financial institutions in this group. Social Lender is providing technology to enable our partners compete in these markets. Other Alternative credit scoring companies like Lenddo, Kreditech and Hello Soda are exploring this market from the point of view of big data only and not from the point of view of reputation in Social Communities. Unlike the aforementioned competition, Social Lender depends on the User's Social Reputation Score computed by a proprietary algorithm. Also Social Reputation Score can be improved by providing more information. For example, Social Reputation Score is improved by the introduction of Social Guarantor who provide electronic personal guarantee on the personality of the borrower or the transaction. Social Lender is uniquely positioned to work with each of the groups mentioned above (Peer to Peer Lenders, Banks, Credit Scoring Companies)

Planned Goals and Milestones

Social lender is seeking to raise $1 million in equity or convertible note to: expand their staffing, implement and integrate more technology interfaces, expand Social Lender’s brand and marketing reach, and to expand into new markets with Ghana in sight
Funding Goal1,000,000
Projected Cumulative Lives Impacted500,000
New Implemented CountriesGhana, Senegal, Cote d'Ivoire
Recruit4 Management
New FeatureSocial Reputation Score in other countries and industry verticals

Milestone

Mar 2019
Recognition ReceivedPENDING
Jan 2018
New Product Or Service
Launch of USSD2Loan Platform
Jun 2016
New Country Implemented In
South Africa
Jan 2015
New Country Implemented In
Nigeria

Supporting Materials

Social-Lender-Pitch-Deck-20190101a.pdf