Lenddo empowers the emerging middle class in Colombia and the Philippines to use online social connections to demonstrate their creditworthiness and access affordable, life-improving financial services. Combining community-based microfinance techniques with social media data, the organization is pioneering a new approach to serving the underbanked in emerging markets.
Lenddo community members use their reputation on social networks to obtain loans for anything from education and healthcare to home improvements and small businesses. Through its uniquely intimate lending process, Lenddo has the potential to transform how millions of people access credit and, eventually, other financial services.
With Omidyar Network’s support, Lenddo will expand its operations to new markets to bring affordable and convenient credit to millions of individuals around the world.