what Kreditech does is not the same as Wonga. “I think that what many people in developed countries don’t understand is that you can’t do financial inclusion for the underbanked at the same APR as you have in a developed country. We are improving conditions for people, people who have had no access to proper financing before.” He says typical APRs are around 30 percent, similar to credit cards in those same regions.
Going forward, the plan is to launch in Brazil sometime in the next year, and to continue expanding the products Kreditech offers. Currently, there are several brands that the company uses with consumers — Kreditech is just the overall company’s name — and Griemens says the different products will over time be consolidated under one brand, Monedo. It’s also growing average loan sizes, which are currently between €800 and €1,500, versus the microloands of €200-€400 that were its initial mainstay.
No comments:
Post a Comment