Open

Startup: Help Out (Peer-To-Peer Lending And Personal Finance Manager)

Help Out (Peer-To-Peer Lending And Personal Finance Manager)

Product Background

Startup 2.1. - FinTech - Help Out - Founders
Founders:- Rahim Moubarak (BSc. Computer Science, UCC), Richard Korbea (BSc. Finance Administration, UPSA).

One of the major startup headaches for entrepreneurs, is finance. Meanwhile, bootstrapping and peer-to-peer financial assistance can be a way that this problem can be solved and there is a large market available for it too.

In recent years, the popularity of peer-to-peer lending companies has been growing steadily. In the period from 2014 to 2015, the cost of global P2P lending increased by a factor of 7. In 2015, the global P2P lending market was valued at $64 billion. It is expected that by 2025, its value will approach $100 billion. For this reason, more and more financial institutions are open to alternatives in the fintech industry – P2P lending platforms designed for the needs of end-users

As per the recent fintech app industry overview published by Finch Capital; loans, lending platforms, mortgages, and life insurance services are the indisputable winners both among fintech startups and established financial market players.

 

The Product

Startup 2.1. - FinTech - Help Out - coverHelp Out is a peer-to-peer lending and personal finance management platform for young adults and startups.

Because most young people don’t yet have a stable job and thus are not able to access funds from banks and financial institutions, the most favourable option is usually to ask for money from friends. However, it’s not always that one’s own circle of friends will be in a position to help financially. Meanwhile, there may be other people who may be in the position to help, but may not be in the immediate circle of the person seeking the funds.

Also, for most people out there, managing personal finance, let alone savings and investments, remains a challenge. We’re not born financially literate, and that is how come most people start off so well and yet end up being poor. Therefore, for such people, any advisory system offering assistance on investments, retirement, and savings is a really welcome offer.

It is on these backgrounds that we have put together this app, to make it easy for young people, especially 18 – 35 years, to properly and effectively plan their finances.

 

If you are interested in this startupget in touch with us.

Leave a Reply

Your email address will not be published.

You may use these <abbr title="HyperText Markup Language">HTML</abbr> tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

*

error: Alert: Content is protected !!