Jump to:

Lendonomy hero image

Lendonomy

Follow

A social app to build your globally valid credit profile on the blockchain.

248%
 - 
Funded 30 Apr 2021
€150,002 target
€376,793 from 434 investors
More
Less

Business overview

Location Oslo, Norway
Social media
Website www.lendonomy.io
Sectors Finance & Payments Digital Mixed B2B/B2C
Company number 921270259
Incorporation date 4 Aug 2018
More
Less

Investment summary

Type Equity
Valuation (pre-money) €2.2M
Equity offered 14.22%
Tax relief N/A
More
Less

Business highlights

  • Signed up individuals from 64 countries to the waiting list
  • One out of 4 influential FinTech companies from Norway
  • Top 10 blockchain startups to invest in
  • Top 10 welfare companies in the Nordics and Baltics
More
Less

Key features

  • Secondary Market
  • Nominee investment min. €11.30 +

Idea

Introduction

Though being surrounded by credit from a young age, many still have no idea how it works. A study by TransUnion showed that 46-56% of high-school-aged students don’t understand what is factored into a credit report or credit history.

Understanding and building up credit takes years. And even if you’ve got a healthy report in your home country, credit can’t transfer across – this means that you’ll have to start from scratch.

In a world where 1 in 10 students study outside of their home country and 3.2% of the world population work abroad, we are on a mission to make credit easy, transferrable, and globally verifiable.

✅ We monitor and analyse data from bite-sized peer-to-peer loans, save it on the blockchain and use it to build a credit history that can be internationally verified.

✅ With the help of Open Banking APIs, mobile-first Tinder-like design, educational content, and the elements of gamification, we encourage reasonable credit behavior and a healthy relationship with credit.

Substantial accomplishments to date

🚀 Today: signed up people from 64 countries to the waiting list without marketing costs and integrated with 95% of the Norwegian banks.

Earlier, in chronological order:

🚀 Feb. 2019: one of the top 10 Norwegian startups to keep an eye on in 2019: https://www.eu-startups.com/2019/02/10-norwegia...

🚀 Apr. 2020: become the 1st Norwegian company to implement PSD2 and Open Banking APIs in the crowdlending industry: https://www.finextra.com/pressarticle/82016/len...

🚀 May 2020: one of the most promising startups coming out from Norway in 2020 by KnowTechie: https://knowtechie.com/some-of-the-most-promisi...

🚀 Jun. 2020: Lendonomy and our API provider Neonomics listed among 10 startups that are working to improve Finance and Welfare in the Nordic-Baltic region in the same list with Invesdor, Klarna, Transferwise, Lunar, CrediWire: https://nordicbaltic.tech/2020/05/04/10-nordic-...

🚀 Aug. 2020: Lendonomy is featured in Forbes Kazakhstan with the CEO on the cover (the cover says "Creators of the Future"): https://forbes.kz/woman/zanyat_do_stipendii_159...

🚀 Jan. 2021: Lendonomy is among 4 influential fintech companies disrupting Norway's financial space in the same list as Signicat, Vipps, and Neonomics: https://ibsintelligence.com/ibsi-news/4-influen...

Monetisation strategy

We plan to generate revenue from transaction fees (we call them "matching fees" and from charging brands to place content on our integrated educational platform).

Matching fee: 1% from the loan amount

We are now in a pilot project with 4 Norwegian companies who post videos and articles inside the application.

Our architecture will allow third parties to connect to one or several of our blockchain channels (upon consent from users) to validate the data. This means that a bank or a credit bureau that wants to check the validity of the user's claims regarding their loan behavior can connect to our system and validate the information. We can provide readable JSON files with raw data or systematise the data and monetise aggregated data insights by creating industry reports. This part is by far the least explored by us, but we see a great value in it. So, we have created a solid tech foundation to enable it.

Use of proceeds

We'll allocate 30% of the funds to compliance. Now we're moving toward securing our registration (since a license is not required) in Norway to be able to list on the app store. The plan is to get a PSP license in Lithuania and then passport it to the EU. After that - to apply for a license in the UK.

Though we're still in beta in the small country of Norway, we see a lot of great ideas coming from our users. Roughly 40% of the funds will be spent to make these ideas come true. E.g., making a credit report downloadable right from the app, saving contact details of previous matches, adding additional data points for a more accurate Trust Score and so on.

Since the word "credit" is one of the most expensive to rank for in Google, we need to be creative with our marketing. We plan to launch a referral program and engage with Social Media influencers to spread the word about Lendonomy. We plan to spend about 30% on expanding our user base.

Let's help youth build a healthy relationship with credit. Join us on our journey.

Investor Perks

Open an account to get access to the team members of Lendonomy

Sign up

Already have an account? Log in

To comply with financial regulations, we can only show full campaign details to registered users.

Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Only shareholders can access this page

If you successfully purchase a share lot of this business, you will be granted access.

Buy shares

Investing involves risks, including loss of capital, illiquidity, lack of dividends and dilution, and should be done only as part of a diversified portfolio. Please read the Risk Warnings before investing. Investments should only be made by investors who understand these risks. Tax treatment depends on individual circumstances and is subject to change in future.

This webpage has been approved as a financial promotion by Seedrs Limited (trading as Republic Europe) ("Republic Europe"), which is authorised and regulated by the Financial Conduct Authority with firm reference number 550317. It is not intended to be a promotion of any individual investment opportunity and is not an offer to the public. The summary information provided about investment opportunities on this webpage is intended solely to demonstrate the types of investments available on the Republic Europe platform, and any investment decision should be made on the basis of the full campaign. Full campaigns are available to investors who have become authorised to invest on the Republic Europe platform. All investment activities take place within the United Kingdom, and any person resident outside the United Kingdom should ensure that they are not subject to any local regulations before investing.

Republic Europe does not make investment recommendations to you. No communications from Republic Europe, through this website or any other medium, should be construed as an investment recommendation. Further, nothing on this website shall be considered an offer to sell, or a solicitation of an offer to buy, any security to any person in any jurisdiction to whom or in which such offer, solicitation or sale is unlawful. Republic Europe does not provide legal, financial or tax advice of any kind. If you have any questions with respect to legal, financial or tax matters relevant to your interactions with Republic Europe, you should consult a professional adviser.

Tax Relief (SEIS)

This business is eligible for SEIS relief - providing qualifying investors with income tax relief of 50% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Tax Relief (EIS)

This business is eligible for EIS relief - providing qualifying investors with income tax relief of 30% of their investment and certain other tax reliefs. Tax treatment depends on individual circumstances and is subject to change in future. Click to learn more.

Valuation (pre-money)

Valuation rounded from €2,244,745

This is the fully-diluted pre-money valuation of the business (i.e. before the new investment comes in and including issued options and other equity interests). In contrast, the post-money valuation is based on inclusion of the new investment in the value.

It is calculated as the pre-money valuation plus the amount of new investment. e.g. If Company A is ascribed a pre-money valuation of £1,200,000 by prospective investors investing £300,000, its post-money valuation is £1,500,000.

The investee business is responsible for setting its own valuation, it has not been prescribed by Seedrs.

Pitch type

Investing in a regular equity campaign is the simplest and most common way to invest in a startup. You decide which business you want to invest in, and if the campaign hits its funding target then you will become one of their shareholders. As the company becomes more valuable, so do your shares; allowing you the opportunity to share in the future success of the business.

Learn more about pitch type on Seedrs

Equity Offered

The equity offered is the percentage of the company’s shares being issued in return for the amount of investment raised.

When the amount raised is less than 100%, the equity offered is based on the target raise. Once the company has raised over 100% it is based on the total raised.

In some scenarios, entrepreneurs may accept additional direct investment after closing their Seedrs campaign. Provided this is within 6 months of the closing and on the same terms, we do not typically offer pre-emption rights on that extra investment (where you have the opportunity to invest again to maintain your percentage shareholding).

Learn more about investing and pre-emption rights.

Nominee investment

This shows if you are able to choose, when making an investment, that you be represented by, and your shareholding be managed by, the Nominee investment.

Find out more

Custodian

If you invest in this Campaign, Seedrs will act as Custodian rather than provide our standard nominee service. This is due to the fact that the business is not directly involved in the share sale and Seedrs will not benefit from any rights under a shareholder agreement. As a result, Seedrs will handle administrative tasks as we do normally, but you will not have information or voting rights, updates from the business, preemption on future fundraising, or ongoing support about business trading activity.

Learn more about Custodian here

Secondary market

This shows if the business has opted-in or opted-out of allowing its shares to be bought and sold on the secondary market.

Find out more

Direct investment

This is an option to invest and hold shares 'directly' in the company (rather than via the Nominee investment). This option is only available to those investing over the threshold amount, which is determined by the fundraising company.

If you choose to hold your shares directly, you will be responsible for any contractual or administrative arrangements with the company you are investing in.

Find out more

Payment options

We are not able to accept card payments for investments into this sector. You can pay for your investment by creating a bank transfer, using funds in your investment account or create a Pay by Bank payment. Your investment will only be completed once the funds have reached our account.

Business Involvement

This Campaign offers shares for sale in business that is not directly involved in this Campaign or the sale. As a result, the Campaign and post-investment experience, including investor rights, will differ from a business-led campaign on Seedrs. Most notably, the business will not engage with investors in the discussion forums both during and after the sale or provide any updates to investors.

Learn more here

Payment options

We are not able to accept Pay by Bank payments for investments into this sector. You can pay for your investment with a card payment, by creating a bank transfer or by using funds in your investment account. Your investment will only be completed once the funds have reached our account.

Drawdowns

This campaign offers the ability to pay for an investment by drawdowns.

Security Token

A security token is a digital asset that represents ownership or other rights. It is a digital form of traditional investments. In the future, you may be able to trade your investment through compatible exchanges.

Warning

You are following a link outside of europe.republic.com.

None of the information in constitutes part of the campaign and it has not been approved or reviewed by Seedrs.

ContinueCancel