We’re back from lunch and are jumping right into the last session of the Fintech Lending Plattform session. Cameron Stevens is the Co-Founder & CEO of Prodigy Finance. His mission: Internationalizing the lending market for students.
Stevens explains the current situation, if students are asking for funding. „If you are living your whole live in London, Barclay will suit you well. But then if you’re coming from another country, access to money will be much more complicated. It is unfair, that access to funding is based on where you are, because talent is borderless – and finance is not.“
The model Prodigy Finance uses in order to solve this problems is based on five columns:
1. Borderless model to 150 countries
2. Build on thousands of data points
3. Localized risk scheme
4. Individually priced loans
5. Flobal environment
This seems to work quite well. In 2018, Stevens calculates with $1bn in debt financing for Prodigy Finance.