Victor EzejaIn its quest to raise the bar of financial inclusion, a Nigerian fintech firm, P2vest Technology Limited has recorded 100,000 users who enroll in its peer-to-peer lending application to get quick access to affodable loans.
According to a statement from the company management, the achievement underscores the organisations’ role in transforming the way people access to credit and lend money by bringing borrowers and lenders together as it has in the past 15 months been using technology to serve its users with quick disbursement of loans and flexible payback plan.
To bridge the gap of access, P2Vest connects authorized lenders with borrowers, while helping them take control of their debt, grow their businesses, and invest for the future.
Founder and CEO of P2vest Technology, Mr Austin Abolusoro said the aim of the organisation is to offer people easy access to credit through their AI technology that ensures credit-worthy individuals benefit.
‘’Our goal at P2vest is to build a platform that delivers on ease of access to credit while also building a credit history. Our approach is different, we are using Artificial Intelligence to ensure credit-worthy Nigerians have access to quick loans. Since we launched, we have provided access to quick loans to over 105,000 Nigerians. This is a big achievement for us as we have availed people the chance to access loans for their different needs like setting up of businesses, house renovations, Car loans, paying rent, school loan, medical bills on the platform faster and without delay. While also creating an opportunity for people to borrow more as long as they continue to pay back’’
The COVID-19 pandemic lockdown gave impetus to fast rise of fintech Industries and massive digital transformation in the provision of financial services. This has brought about the sharing economy- a new model of consumption, sharing, collaboration between individuals of goods, services, resources, with or without monetary exchanges through dedicated platforms.
With the adoption of the sharing economy technology by businesses, the model which has grown in leaps and bounds allows for the peer-to-peer economy to thrive as they cut out the role of third parties. Users on P2Vest can borrow money and also lend to others and make some interest.
P2vest, which was founded in 2020, is a peer-to-peer lending platform known for providing lending solutions for lenders and borrowers through its platform as a way of deepening financial inclusion in Nigeria. Utilising technology, P2vest is committed to ease of access to credit for borrowers and ensuring competitive returns for lenders.
Victor Ezeja is a passionate journalist with six years of experience writing on economy, politics and energy. He holds a Masters degree in Mass Communication.
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