A service for lending to youth with bad credit history attracted more than $ 2 million with the participation of Victor Vekselberg

    The American service Pave received investments from Maxfield Capital , RPMVentures and Seer Capital . The A round was led by Maxfield Capital, co-owned by businessman Viktor Vekselberg. The transaction amount was not disclosed, but usually the average Maxfield Capital check in the initial rounds is $ 2 million. This is the third transaction of the fund in the field of financial technology.

    The service helps young professionals get a loan of up to $ 25 thousand at a rate of 6% for a period of two or three years. Funds are provided by members of a special community created as part of the project. The founders of the company are Oren Bass and Sal Lahoud, the company is headquartered in New York. The team includes immigrants from Apple, American Express, Facebook, Goldman Sachs, Microsoft, and Visa.

    Pave's peer-to-peer service provides loans to people aged 20 to 35 years. Their number in the United States is more than 25% of the country's population and reaches 80 million people. In terms of the widespread FICO rating in the USAMost of their credit history is very modest. In addition, they cannot count on favorable credit conditions due to the predominance of quantitative criteria in the rating, such as amounts of previous credit accounts and so on. To assess the solvency of this category of citizens, Pave changed the FICO formula, increasing the importance of criteria such as education, work experience and future employment potential.

    “During the financial crisis of 2008, we saw a huge number of people of our generation who could not gain access to capital in order to accelerate personal and professional development, despite their powerful potential and career prospects. And we saw gigantic opportunities in providing financing for such ambitious young people, ” explainedThe goal of launching the service is co-founder and CEO of Pave Oren Bass to Businesswire.com.

    According to Pave, about 60% of young borrowers use loans to continue professional or personal development, about 40% use credit card debt consolidation or debt refinancing.

    The world's largest p2p lending operator - LendingClub . Its co-owner is the DST fund of Yuri Milner . At the end of 2014, LendingClub went public. The valuation of the company reached $ 5.4 billion. According to investors, in the future it will be able to replace traditional banking.

    In Russia, the market for mutual lending to individuals is growing, but more slowly than in the world. According to J'son & Partners Consulting, from 2010 to 2013, the volume of the Russian p2p lending market almost doubled - from 200 million rubles to 380 million rubles. In our country there are several services like LendingClub: "Vdolg.ru" , Loanberry , Fingooroo . The investor of the latter is also Maxfield Capital.

    “The mutual lending market is a new direction, which is under active development. Not surprisingly, the legislation has not yet been adapted for such a business model in Russia. Seeing this problem, our portfolio project Fingooroo, the first of p2p companies, received a license from an MFI - a microfinance organization, ” said RBC investment director of Maxfield Capital Alexey Tuknov.

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