As I was looking though a list of different Swedish start-ups I found lots of interesting ideas that had been brought to reality. One startup that caught my eye was Lendify. I had heard about the company before but had not visited their website or used their service.
Lendify is a lending platform where people can borrow money directly from other people. The platform hence lets people borrow money and lend money from each other – without the involvement of banks or credit card companies. The traditional banking costs are cut out which enables Lendify to provide great rates for borrowers and attractive returns for the investors. A movie of how the service works is shown below.
To me this is interesting because even if I don’t have a lot of money at the moment as a student, I know that the rate at the bank is bad. Investing in something like this with a high interest therefore sounded great.
The first page of the website one had to choose between applying to borrowing money or choosing to lend money. Once I clicked my way to lending out money the new page was very informative with lots of information about the rates, laws and rules which made me a bit scared. It felt l was committing to something big and that I was going to risk a lot. But at the same time it felt serious.
I decided to logon as a user and lend a bit of money. Beside the informative and serious yet scary impression the service gave it was built well and I had a positive experience with the service. I hope that I will retrieve some interest on the money that I lent to someone. If not, I at least hope someone is enjoying my money right now…
However, after browsing a bit further on their site, I realized they had a complaint form ready for you to fill in. I wonder if that means that they get a lot of complaints because people are unsatisfied with their service.
I sent a summary of my experiences with this service to their email “email@example.com”
You should definitely try it out, who doesn’t want some more money in their bank account!