News and Announcements
Credi Continues Expansion to NZ
- Published December 06, 2017 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
KEY TAKEAWAYS:
- Credi continues their international expansion as the platform is now available in NZ.
- This comes after a successful market test of 2 months that saw over 100 users join the “Bank of Mum and Dad.”
- There have been $50 million dollars of loans over a 6 month period through the platform.
Credi Pty Ltd, a world-first relationship-lending platform that empowers “The Bank of Mum and Dad”, continues their growth into international markets with the availability of the platform in New Zealand.
After a successful market test that was conducted for 2 months, the platform secured over 100 users, displaying the need for the Credi platform in NZ.
The demand for the formalising of agreements is high as this confirms the terms of the agreement and reduces the risk between the loaning parties. With the “Bank of Mum and Dad” becoming increasingly popular for loans for property and cars, to holidays and laptops.
There is a strong demand Credi have uncovered in sharing between partners for finance professionals. Currently, the platform only facilitates sharing between individuals, however, Credi has intentions to release a partner version in the coming weeks.
About Credi Pty Ltd
If you’ve ever loaned your children money you are officially a branch manager of “The Bank of Mum and Dad”. You are also a part of one of the fast-growing sectors of the Australian economy. Credi.com was born out of the pressing need to document loans between family members, friends and businesses. It removes the stress, the embarrassment and the risk of legal action, formalising a loan within minutes and without a scrap of costly, time-consuming paperwork.
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