FINWYN

Peer-to-peer business lending and beyond marketplace Why we started this business? As many current startups started, our CEO was involved in financing with banks when worked for different companies in the financial roles (FD/CFO) and was always time consuming with a very long list of documents required. In other cases, for example when you work as a self-employed person or as a manager of a smaller firm you invoice larger corporations on their terms (e.g. payment within 60 days) and you need to... pay your expenses timely. The simple question, why you cannot get a prepayment to cover your expenses which occur today when you already performed services / delivered goods? For example, in Luxembourg a self-employed consultant can only go to a bank and it is not clear whether (s)he would get money before the invoice is paid. From the other side, there are always people ready to invest free money, and looking at the example of the above mentioned invoice payable in 60 days, why not to transfer those free money to the small business? And here comes another point – how easy is it to find an investor with funds available for the firm, and a firm willing to get financing at a cost by investor? That is why in modern world with instant access to different markets and information it is quite easy to meet the two willing parties. Our marketplace is organised in order to facilitate the process of standardisation of contracts, different technical features (auction for example), at the same time getting a market offer from different investors. If the amount is big enough it is quite easy to get funding from practically unlimited number of investors. And the marketplace would help here as well – when receiving the money from the customer/business itself the marketplace takes care of correct allocation of the funds received to all the investors took part in the financing. #fintech #luxembourg #startupMore