Nigerian FinTech Platform, P2vest, hits 100,000 users
P2vest Technology Limited reported that their peer-to-peer lending application, P2Vest, has reached 100,000 customers who have access to rapid loans.
This accomplishment highlights the organization’s contribution in improving the way individuals obtain credit and lend money by connecting borrowers and lenders.
Over the last 15 months, the leading peer-to-peer lending network has employed technology to provide its members with speedy loan disbursement and customizable repayment schedules. To close the access gap, P2Vest connects approved lenders with borrowers, assisting them in taking control of their debt, growing their businesses, and investing for the future.
According to the Founder and CEO of P2vest Technology, Mr. Austin Abolusoro, “Our goal at P2vest is to build a platform that delivers on ease of access to credit while also building a credit history. Our approach is different, we are using Artificial Intelligence to ensure credit-worthy Nigerians have access to quick loans. Since we launched, we have provided access to quick loans to over 105,000 Nigerians. This is a big achievement for us as we have availed people the chance to access loans for their different needs like setting up of businesses, house renovations, Car loans, paying rent, school loans, 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 pay back.’’
The rapid rise of FinTech companies and massive digital transformation in the provision of financial services has resulted in the sharing economy—a new model of consumption, sharing, and collaborations between individuals of goods, services, and resources, with or without monetary exchanges via dedicated platforms. The use of sharing economy technology by enterprises has resulted in a model that allows the peer-to-peer economy to thrive by eliminating the role of third parties. Users on P2Vest can borrow money and lend it to others in exchange for interest.
