Bitbond connects fixed-income investors with small business owners who need loans. To make global cross-border lending possible, the platform uses the bitcoin blockchain for payment processing.
The partnership will enable SMEs who get loans on Bitbond to get same loan paid out directly to their mobile money or bank account. The loan will be paid in the local currency of the SMEs within minutes.
“10% of our global user base comes from Sub-Saharan Africa. We are excited to work with BitPesa in this region because there is a huge unmet demand for small business financing. Together with BitPesa, we can significantly improve our service. This means that a small business owner from Kenya can receive loan funding from investors from all over the world via Bitbond and have the funds paid out to his mobile money account in 20 minutes,” said Radoslav Albrecht, founder & CEO of Bitbond.
He added, “This is an unprecedented level of innovation and convenience in the entire online lending space.”