Welendus (PTP Funding Limited), a London, UK-based peer to peer (P2P) lending platform focusing on short term loans, raised funding from the Unicorn Ascension Fund.
UAF has participated in this round as a co-investor alowng with Pontaq.
The amount of the deal was not disclosed.
The company intends to use the funds to accelerate growth and expand into India.
Led by Nadeem Siam, Co-founder & CEO, Welendus is a peer-to-peer short-term lending platform authorised and regulated by the FCA. The company offers lenders an opportunity to lend (as short-term loans) to a large pool of borrowers. Investors have the ability to choose the risk profile of their borrowers, which in turn determines the annual return on their investment. Borrowers can choose to borrow money starting from £50 and up to £500 with instant decision and same day funding.