LenddoEFL

LenddoEFL is a digital financial services provider that enhances credit access for underserved populations through innovative credit scoring and verification solutions, utilizing alternative data sources for better credit assessment. LenddoEFL specializes in providing digital financial solutions to improve credit access. Founded in 2011, the company is headquartered in Singapore. In October 2015, LenddoEFL raised USD 6.

00 mn in a SERIES B funding round co-led by Golden Gate Ventures and Kickstart Ventures, marking a significant investment in its growth. The CEO, MJ Kim, has a history of leadership in financial technology. The company has completed 3 notable deals to date, with the most recent deal occurring on 14 October 2015. LenddoEFL focuses on innovative digital financial solutions that enhance credit access for underserved populations.

The company offers credit scoring and verification services, utilizing alternative data to assess the creditworthiness of individuals without traditional credit histories. This approach is particularly beneficial in emerging markets where conventional banking is limited, enabling consumers and small businesses to obtain loans and financial products that suit their needs. LenddoEFL's technology addresses financial inclusion challenges, empowering clients, including financial institutions and fintech partners, to make informed lending decisions and bridge the gap between lenders and borrowers. In the most recent fiscal year of 2018, LenddoEFL reported a revenue of USD 3,560,056.

The company generated revenue through service fees charged to clients for its credit scoring and verification solutions, allowing financial institutions to access proprietary data analytics that inform their lending decisions. This transactional structure helps facilitate increased transaction volumes for clients while enhancing consumer access to financial services. LenddoEFL is focused on expanding its product offerings and geographic reach. The company plans to launch new products aimed at further improving financial inclusion, with a timeline for release expected in the next year.

Additionally, LenddoEFL intends to expand into new markets, specifically targeting regions in Southeast Asia and Latin America by 2022. The recent funding round of USD 6. 00 mn will be strategically utilized to support these initiatives by enhancing technology capabilities and facilitating entry into these new markets. In October 2015, the company raised this funding through a SERIES B financing round, with participation from various investors.