Berlin-based microloan company MonFi has launched a blockchain-based lending and investment platform. Their objective is to disrupt the lending industry by providing affordable and transparent financing options to individuals, businesses, and organizations. They offer services such as peer-to-peer lending, crowdfunding, and a credit/debit card, providing an alternative to traditional options.
The platform allows direct opportunities in projects and businesses, eliminating intermediaries like banks and reducing costs. Users can explore projects, evaluate their performance, and earn interest on their funds. With blockchain's transparency and security, it ensures accountability and faster processing times.
Its crowdfunding platform enables borrowers to raise funds from a diverse pool of individuals, expanding financing options. Leveraging blockchain technology, the platform streamlines the lending process and enhances access to financing.
In addition, they offer a credit or debit card, facilitating secure and convenient access to funds held within their account. Users can convert crypto assets to fiat currency for online or in-person purchases, enjoying convenience, security, flexibility, and rewards.
To qualify for loan or investment opportunities, applicants undergo identity verification, creditworthiness assessment, and collateral provision. The company utilizes blockchain-based identity verification, advanced credit scoring algorithms, and collateral management to ensure accessibility and affordability for a wide range of borrowers.
The team has implemented a token distribution plan to sustain its ecosystem. Tokens are allocated to stakeholders such as the team, partners, project reserves, staking rewards, marketing, and more. Tokens are held by a licensed company, Kofi Tech.
The project's goal is to lead the microloan and peer-to-peer lending industries by offering an innovative alternative. They aim to capitalize on the growing interest in blockchain-based financial services and invite potential investors to explore their platform.