Forbes posted an interesting video this week with Julie Hanna from Kiva, discussing the democratising force of technology. Kiva has helped fund nearly 1.5 million entrepreneurs from poor countries around the world, with a 1% default rate.
Chinese Peer to Peer Lending website Yooli.com has received a significant investment from Morningside Venture Capital, according to its CEO. The site has around 760,000 users and facilitates 100 million yuan in loans every four days (over $18 million NZD)...
Last week I got talking to the barista at the café downstairs from our office. He asked what company in the building I worked for, and then what Harmoney was. He seemed intrigued at the idea of peer to peer at first… before balking at the average return on investment. You could almost see the Tui billboard in his head. It’s the sort of too-good-to-be-true reaction we see from a lot.