On 12 April 2021, Change Com invested NOK 150,000 in Lendonomy, a Norwegian fintech start-up that aims to create a mobile social network for microlending.
Every year, people lend hundreds of billions of dollars to each other: a Guardian’s poll showed that 50% of the population in their 20s have to borrow to make money last until payday. The immense amount of data about user lending and borrowing behavior remains unused by traditional lenders. Moreover, peer-to-peer microlending as such has historically been inconvenient for both borrowers and lenders.
Lendonomy has developed a mobile application designed to fix peer-to-peer microlending while also making credit history derived from it transferrable across borders. The company’s matching algorithm enables users to get small loans and give loans to others while building a blockchain-verifiable credit profile. Lendonomy monitors and analyzes data from the bite-sized peer-to-peer loans and helps authorized third parties to connect to the company’s blockchain channels to validate the data. Lendonomy believes that with the globally verifiable credit profile, the app users will be able to rent an apartment, secure car insurance, get a job offer, apply for a mortgage, get a mobile phone etc. in countries that traditionally require a credit history for such operations.
Lendonomy was founded in 2018 by Anzhelika Osmanova, a Forbes-featured entrepreneur. Before founding Lendonomy, she worked as a marketing and digital automation professional in Norway, UK, the USA, Kazakhstan, and Spain. She was a part of the team that brought a famous Norwegian scaleup Huddly to market in collaboration with Google. Anzhelika holds a Master’s degree in international business and a Bachelor’s in Journalism.
