Family and friends loans - fintech group launching new loans platform

Australian FinTech group Credi is looking to raise $2 million by working through Wholesale Investor, a private investment platform, to target a network of sophisticated Australian investors with their new family and friend loans platform. The capital will be used to enter the New Zealand, United Kingdom and United States fintech markets.

Credi provides a way of formalising loans between family, friends and businesses to remove the stress and potential need for legal action. The platform allows users to negotiate the terms of a loan and provides formal documentation.

Credi can calculate the repayments and interest, send out reminder notices and allow repayments to be modified. The terms of the loan are fully flexible to match the requirements of both the lender and borrower.