Lendit is a LaaS system that enables companies that want to invest their short-term cash to lend it to other companies through a whitelabel solution to partner platforms.
Current Status
We have achieved important results but there is still a long way to go. We reached 2 poc with 100.000 loan transacted, and closed a 140k round. In 2 months, authorization 1503/2020 will arrive, to operate throughout the EU. And the long-term goal is to expand into some EU countries such as Spain Germany and France. We were selected as top 6 Italian fintech startups by Qonto
Problem or Opportunity
To date, about 1,640,000 microenterprises apply for loans of less than 20,000. Currently, about one in three enterprises fail to obtain the desired credit. Many microenterprises need short-term working capital coverage, given the often unfavorable collection/payment ratio.
On the other hand, cash and cash equivalents have increased by more than 100 billion in the past year to 28 percent of GDP. Many large enterprises have stagnant cash in their current accounts, paying inflation and fees. These enterprises want to use a percentage of their liquidity to earn a favorable annual return.
Solution (product or service)
Lendit is an innovative credit-sharing platform focused on providing microfinance to enterprises, on the other hand enabling sustainable and profitable investment for businesses, professionals and institutional investors. Our main target audience is microenterprises and SMEs, offering them unique solutions to obtain working capital financing.
We operate through our innovative proprietary technology, namely a Lending as a Services system of our lending crowdfunding platform, which allows other platforms to directly integrate Lendit peer-to-peer (P2P) lending services into their platform
Business model
Lendit charges a monthly transactional fee for each transaction that occurs through the embedded solution, facilitating an ongoing revenue model that is proportional to the volume of transactions handled on the embedded platform. To ensure a stable and predictable revenue stream, Lendit imposes a guaranteed minimum that partners must pay each month, regardless of transaction volume. This model generates a revenue line for partner firms for the capital invested by their customers through their platform, making the product highly cost-effective.
