Smart’s Lendr inks P12B loans in 2017
The digital platform has drawn overwhelming interest for borrowers.
FINTQ, the financial technology arm of bilyonaryo Manuel Pangilinan’s Smart Communications, has shown its might in capturing more Filipinos to tap formal financial channels.
In a statement, FINTQ said total loans approved and disbursed via their Lendr app reached beyond P12 billion for 2017. This is higher by almost a third from 2016, and brings the two-year total to P27 billion.
“Borrowers who use Lendr are those with profiles that are targeted by banks. This only goes to show that our platform is really beneficial for our bank and non-bank partners as we work together in providing the financial needs of consumers,” FINTQ Managing Director Lito Villanueva said in a statement.
The online lending platform links up users to 70 banks and financial outlets to secure credit.
“For 2018, we are confident that with the deployment of a number of our Lendr partners, we will keep our double-digit growth and could even double last year’s performance,” Villanueva added.