BitBond and Bitpesa target P2P loans for African Businesses
Bitbond and Bitpesa recently announced a new initiative offering small business loans to Kenyans, Nigerians, Tanzanians, and Ugandans. In a bid “to improve access to financing for SMEs in Africa,” the move allows Bitbond borrowers in the four countries to “withdraw loans into their mobile money or bank account in as little as 20 mins,” according to Bitbond’s announcement.
The partnership connects borrowers in Africa with the German peer-to-peer (P2P) lender, Bitbond, using their mobile phones. Bitcoin-based mobile payments provider, BitPesa, provides the loan within minutes.
“This means that a small business owner from Kenya can receive loan funding from investors from all over the world via Bitbond.”- Radoslav Albrecht, Bitbond Founder & CEO
Calling itself “the first global marketplace lending platform for small business loans,” Bitbond has been offering P2P lending with bitcoins since July 2013. The growing business connects individuals and fixed-income investors from around the world with small businesses, and claims the title of the very first German regulated financial services provider that uses blockchain technology.
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