P2vest, a peer-to-peer lending platform from P2vest Technology Limited, commemorated gaining 100,000 users on its platform since its launch in 2020.
With a mission to transform the way people access credit and lend money by bringing borrowers and lenders together, the platform says it enables fast loan disbursement and a flexible repayment plan that is safer than offers received loan sharks.
Borrowers who have been cash-strapped for some time in Nigeria are at the mercy of lenders who use unscrupulous means to collect loans. These lenders who conduct their business in an unprofessional manner go so far as to taint the integrity and character of borrowers and their innocent guarantors.
Promising to provide a better approach to peer-to-peer lending and borrowing through the use of artificial intelligence, Founder and CEO of P2vest Technology, Mr. Austin Abolusoro, says, “Our goal at P2vest is to create a platform that provides ease of access to credit while building a credit history. Our approach is different, we use artificial intelligence to ensure that creditworthy Nigerians have access to fast loans.
According to Abolusoro, the 15-month-old fintech company has bridged the loan access gap by connecting approved lenders with borrowers, while helping them take control of their debt, grow their businesses and grow their business. invest for the future.
“Since our launch (in 2020), we have provided access to rapid loans to over 105,000 Nigerians. This is a great achievement for us as we have given people the opportunity to access loans for their different needs such as business start-up, home renovation, car loans, rent payment, loan school, medical bills on the platform faster and without delay. While also creating an opportunity for people to borrow more as long as they continue to repay,” he said.
Speaking about how it works, the company says it uses sharing economy technology. Sharing economy technology is a new model of consumption, sharing, collaboration between individuals of goods, services, resources, with or without monetary exchanges via dedicated platforms.
The adoption of sharing economy technology and its model has allowed the world of fintech credit to grow over the years. Its growth now creates room for the P2P economy to thrive by removing the role of third parties.
On the P2vest platform, users are encouraged to grow their money by “becoming a lender on our easy-to-use platform. Grant loans tailored to you and your income, and earn attractive returns. Borrowers, on the other hand, must provide their exact details, including bank details, where loan payments, when due, are automatically withdrawn from accounts.