Since launching in 2013, SME lending platform Bitbond has established itself as a fast and reliable financing solution for businesses around the world. Now the Berlin-based platform has launched a new product: Bitbond Flex.
Bitbond Flex is designed to give entrepreneurs the financial flexibility to make smart business decisions. More specifically, Bitbond Flex allows borrowers:
- To ‘top up’ their existing loan, giving them additional funds quickly.
- To easily extend the loan duration of their current loan in order to decrease the monthly repayment amount.
Bitbond Flex has proven to be very popular, generating over $200,000 In loan volume in its first day.
This is good news for the 150 million SMEs all over the world, who typically struggled to acquire additional financing from banks and other financial institutions.
Founder & CEO Radoslav Albrecht said: “Bitbond Flex gives entrepreneurs from around the world the ability to adapt to a quickly changing business environment. Now businesses can use our platform to top up and stretch their existing loan. As a result, businesses can access extra capital with the click of a button through our platform.”
In 2016 Bitbond received a regulatory licence from the German Financial Authority, BaFin. As a consequence, Bitbond is one of the first fully regulated and licensed blockchain based platforms in the world.
Most of Bitbond’s borrowers are established small businesses and a large portion are online E-commerce sellers who use marketplaces like eBay, Amazon or Shopify.
Bitbond is the first global marketplace lending platform for small business loans. Individual and institutional investors fund working capital loans of small business owners to earn above average fixed-income returns. Bitbond conducts a credit check on all borrowers based on data from their business accounts.
By using the blockchain for payment processing Bitbond and its users are independent of banks. Bitbond is the first German regulated financial services provider that uses blockchain technology.
Before founding Bitbond, Radoslav Albrecht Bitbond worked for Deutsche Bank London in sales and trading and Roland Berger Strategy Consultants.
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