Funded Co. careers
Funded is a Korean peer-to-peer lending marketplace. (funded.co.kr)
Korea’s loan market presents polarization in its lending rate. While borrowers with best to better ratings lend from banks at a low single digit rate, borrowers who fail to do so are forced to use alternatives like Savings Banks or Capitals at an average rate over 20%.
We solve the problem by creating mid-rate loan market with rates of 5~15% APR. We do so by meticulously distinguishing decent borrowers who were forced to use non-bank lending, using our own credit evaluation model. We create efficient market segmentation by cutting out traditional financial intermediaries and connect direct finance between borrowers and investors.
Korea’s loan market presents polarization in its lending rate. While borrowers with best to better ratings lend from banks at a low single digit rate, borrowers who fail to do so are forced to use alternatives like Savings Banks or Capitals at an average rate over 20%.
We solve the problem by creating mid-rate loan market with rates of 5~15% APR. We do so by meticulously distinguishing decent borrowers who were forced to use non-bank lending, using our own credit evaluation model. We create efficient market segmentation by cutting out traditional financial intermediaries and connect direct finance between borrowers and investors.
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Min Kwon Wang
Founder @Funded Co.
Valuation
$1.8M
Funded over
1 round
Latest round
Seed (Sep 2016)
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