Friday, June 12, 2009

Online Microloan Company Plans London Listing is a platform where individuals can conclude microloan agreements via a secured ID identification. Agreements are reached through an auction during which you can check out several parametres such as credit history or behaviour, education, employment status, revenues, expenditures…

Launched in February 2009, the company is thinking of further expansion to Sweden and Finland. To do so, they would like to be listed in London Stock Exchange Alternative Investment Market, probably in 3 years.

The business idea, Pärtel Tomberg, member of management board, found it some years ago while reading an article dealing with P2P lending in the US and UK.

Young and Successful

This young company is already succesful and exceeds the expectations of the founders who planned EEK 250,000 of loans during the first year. This amount was achieved in 3 months only… and they forecast a volume of EEK 1 million per year during the next 3 years.

Source: EstonianFreePress

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