Africa focused fintech startup, Social Lender, co-founded by Faith Adesemowo, has been announced as the 2022 winner of Rising Stars 4.0 in London region
Social Lender, a digital financial service startup was among the top five early stage scale up in the region.
Tech Nation’sRising Stars 4.0 is United Kingdom’s most exciting competition for innovative, early-stage tech companies designed to showcase the best the country has to offer.
Reacting to the development, Co-founder, Social Lender, Adesemowo expressed her satisfaction on the recent success, describing it as an exciting time for the Social Lender family.
“We are overjoyed at being selected as a Regional Winner and we look forward to making everyone in the team super proud. We are building a social network for Trust, Credit, Insurance and much more.
According to Faith, millions of people around the globe lack access to affordable credit and other formal financial services and social reputation main focus is to solve the multi-million-dollar problem by helping those people with thin files and people that are financially excluded access formal financial services.
“We aim to continue to leverage the opportunity of being the regional winners and the support of Tech Nation to expand our reach and equip more people with the Social Reputation Score which will allow them to access formal financial services quicker, more affordably and bring about economic empowerment over time.
Co-founder, Bade Adesemowo added that Social Lender helps financial institutions and other partner organizations offer financial services based on social reputation to individuals who are under-banked or have little or no access to formal financial services. The solution is available to users who do not have smartphones using USSD and SMS channels.
“The Social Reputation Score is a measure of trust that is use as measure of creditworthiness for several financial services including access to insurance, financial inclusion, KYC, and leasing for new migrants and students in the United Kingdom and United State of America”, he explained.