Weemba
closedOnline financial network connecting borrowers and lenders.
| Date | Investors | Amount | Round |
|---|---|---|---|
| N/A | €0.0 | round | |
$2.4m | Series A | ||
| Total Funding | 000k | ||
Weemba operated an online financial network designed to connect money borrowers with lenders. The platform functioned as a marketplace where individual and commercial borrowers could create loan profiles, referred to as projects, detailing their financial needs and the story behind their loan request. Lenders, in turn, could search these projects and identify lending opportunities that matched their criteria.
The service aimed to facilitate financial transactions by removing geographical limitations and increasing the chances of successful outcomes for both parties. A key feature was that borrowers maintained control over their personal information and could approve or reject any lender. The platform targeted a range of borrowers, including those with lower credit scores, by connecting them with various lending agencies rather than individual peer-to-peer lenders. PitchBook data indicates the company is now out of business, with a bankruptcy liquidation notice dated January 1, 2018.
Keywords: financial network, lending marketplace, borrower lender connection, online loans, commercial borrowing, individual loans, project funding, credit services, loan proposals, financial technology, debt financing, alternative lending, out of business, ceased operations