Getting
a small business loan can be an extreme hazzle. Paperwork, meetings,
bureaucracy and the process can often take several months. But,
according to the founder of GrowthBond Ferdinand Kjaerulff, it doesn't
necessarily have to be this difficult. In fact, it is vital for economic
growth in emerging market that we solve this problem.
Ferdinand's company is one of a number of fintech
startups opening up financial systems, replacing old traditional systems
with fast, easy-to-use, apps and services.
Ferdinand has worked with technology startups for the
last fifteen years, covering everything from 3D technology, Freelancing
and e-learning. In 2018 he founded GrowthBond, which helps small
business get funding more easily. GrowthBond provides funding to small
businesses - many of whom would fail to get credit from larger,
traditional banks - not by spending months reviewing their financial
histories, but by using what Ferdinand describes as a more efficient,
automated platform. The company, at which Ferdinand is now head of
operations, offers up to $50,000 in credit to small business
GrowthBond takes the same kind of data used by banks
to ascertain whether a small business is eligible for funding, but uses
automated systems to manage the process. Customers give the company
access to the Facebook, Google, paypal and Stripe data. GrowthBond then
connects and analyses these data sources to provide funding.
GrowthBond mainly targets small businesses left on
the sidelines by big banking institutions, but it also works to give
customers in traditionally ignored economies such as Kenya and Gambia
funding.
Ferdinand Kjaerulff
0045 22320214
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